[F1661CPeriods over which management condition treated as metU.K.
This section has no associated Explanatory Notes
(1)This paragraph applies in relation to any period throughout which the management condition is not met.
(2)The management condition is treated as met throughout the period if the Commissioners for Her Majesty's Revenue and Customs consider that—
(a)the failure to meet the management condition has not prejudiced the purposes of the club, or
(b)it is just and reasonable in all the circumstances for the condition to be treated as met throughout the period.]
Textual Amendments
F1Ss. 661A-661C inserted (retrospective to 6.4.2010) by Finance Act 2010 (c. 13), Sch. 6 paras. 32, 35