1103Power to modify or replace sections 1101 and 1102E+W+S+N.I.
(1)The Commissioners for Her Majesty's Revenue and Customs may by regulations modify, supplement or replace any of the provisions of sections 1101 and 1102 for the purpose stated in subsection (2).
(2)That is the purpose of requiring UK resident companies to—
(a)make returns, and
to an officer of Revenue and Customs in respect of distributions made by the companies which are not qualifying distributions.
(3)References in this Act and in any other enactment to sections 1101 and 1102 are to be read as including a reference to any regulations made under this section.
(4)Regulations under this section may authorise the Commissioners to make special arrangements as regards the matters specified in subsection (5) if in their opinion there are circumstances justifying it.
(5)Those matters are—
(a)the repayment of income tax borne by a company, and
(b)the payment to a company of amounts in respect of any tax credit to which it is entitled.
(6)Regulations under this section may—
(a)make different provision for different descriptions of companies and for different circumstances, and
(b)contain incidental, supplemental, consequential and transitional provision and savings.
(7)No regulations may be made under this section unless a draft of the statutory instrument containing them has been laid before and approved by a resolution of the House of Commons.