The National Insurance Contributions (Application of Part 7 of the Finance Act 2004) Regulations 2007

Citation, commencement and effect

1.—(1) These Regulations may be cited as the National Insurance Contributions (Application of Part 7 of the Finance Act 2004) Regulations 2007 and shall come into force on 1st May 2007.

(2) If—

(a) a notifiable contribution arrangement or a notifiable contribution proposal is, or is substantially the same as (whether it relates to the same parties or different parties), a notifiable arrangement or a notifiable proposal under Part 7 in relation to which the promoter has provided information in accordance with sections 308(1) or (3), 309 or 310 where the first day of the period or time (as the case may be) within which the prescribed information must be provided falls before 1st May 2007, these Regulations do not apply;

(b) the relevant date in relation to a notifiable contribution proposal (1) falls before 1st May 2007, regulation 7 (duties of promoter) does not apply;

(c) the date on which the promoter(2) first becomes aware of any transaction forming part of notifiable contribution arrangements falls before 1st May 2007, regulation 7 does not apply;

(d) the date on which any transaction forming part of arrangements entered into falls before 1st May 2007, regulations 8 (duty of person dealing with promoter outside United Kingdom) and 9 (duty of parties to notifiable contribution arrangements not involving promoter do not apply).

(1)

“Notifiable contribution proposal” and “notifiable contribution arrangements” are defined in regulation 5 of these Regulations.

(2)

“Promoter” is defined in regulation 6 of these Regulations.