Commencement and transitionals
9(1)This Schedule has effect in relation to relevant offshore asset moves occurring after the day on which this Act is passed.
(2)For the purposes of this Schedule, it does not matter if liability for the original penalty first arose on or before that day, unless the case is one to which sub-paragraph (3) applies.
(3)The original penalty is to be ignored if P’s liability for it for arose before the day on which this Act is passed and before that day—
(a)if the original penalty was under Schedule 24 to FA 2007, any tax which was unpaid as a result of the inaccuracy has been assessed or determined;
(b)if the original penalty was under Schedule 41 to FA 2008 or Schedule 55 to FA 2009, the failure to which it related was remedied and any tax which was unpaid as a result of the failure has been assessed or determined.