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28.—(1) Nothing in these Regulations shall be taken to prejudice any powers conferred or duties imposed by or under any enactment in relation to the making of returns of income or gains, or for the recovery of tax, penalties or interest by means of an assessment or otherwise.
(2) Notwithstanding the provisions of these Regulations a plan manager shall not be released from obligations under these Regulations in relation to a plan except under conditions agreed in writing with and notified to that person by the Board.
(3) Subject to the provisions of these Regulations the like provisions as are contained in the Management Act shall apply to any assessment of tax under these Regulations as if it were an assessment of tax for the year in which, apart from these Regulations, the plan investor would have been liable (by reason of his ownership of the investments) and as if–
(a)the assessment were an assessment specified in sections 55(1) (recovery of tax not postponed) and 86(2) (interest on tax), and
(b)the sum charged by the assessment were tax specified in the Table in section 86(4) (reckonable date for interest).
(4) The like provisions as are contained in section 97(1) of the Management Act shall apply as if–
(a)there were inserted after the words“sections 95 and 96 above” the words“or the Personal Equity Plan Regulations 1989”, and
(b)there were inserted after the words“that they were” the words“or have become”.
(5) Any form prescribed by the Board for the purposes of these Regulations shall provide for a declaration that all the particulars given in the form are correctly stated to the best of the knowledge and belief of the person concerned.
(6) No obligation as to secrecy imposed by statute or otherwise shall preclude the Board from disclosing to a plan manager or plan investor that any provision of these Regulations has not been satisfied or that relief has been given or claimed in respect of investments under a plan.
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