Textual Amendments
F1Sch. 43B inserted (15.9.2016 with effect in accordance with s. 157(30) of the amending Act) by Finance Act 2016 (c. 24), s. 157(3)
6(1)If a generic referral is made to the GAAR Advisory Panel under paragraph 3, the Chair must arrange for a sub-panel consisting of 3 members of the GAAR Advisory Panel (one of whom may be the Chair) to consider it.U.K.
(2)The sub-panel must produce—
(a)one opinion notice stating the joint opinion of all the members of the sub-panel, or
(b)two or three opinion notices which taken together state the opinions of all the members.
(3)The sub-panel must give a copy of the opinion notice or notices to the designated HMRC officer.
(4)An opinion notice is a notice which states that in the opinion of the members of the sub-panel, or one or more of those members—
(a)the entering into and carrying out of tax arrangements such as are described in the general statement under paragraph 4(1)(a) is a reasonable course of action in relation to the relevant tax provisions,
(b)the entering into or carrying out of such tax arrangements is not a reasonable course of action in relation to the relevant tax provisions, or
(c)it is not possible, on the information available, to reach a view on that matter,
and the reasons for that opinion.
(5)In forming their opinions for the purposes of sub-paragraph (4) members of the sub-panel must—
(a)have regard to all the matters set out in the statement under paragraph 4(1)(a),
(b)assume (unless the contrary is stated in the statement under paragraph 4(1)(a)) that the tax arrangements do not form part of any other arrangements,
(c)have regard to the matters mentioned in paragraphs (a) to (c) of section 207(2), and
(d)take account of subsections (4) to (6) of section 207.
(6)For the purposes of the giving of an opinion under this paragraph, the arrangements are to be assumed to be tax arrangements.
(7)In this Part, a reference to any opinion of the GAAR Advisory Panel in respect of a generic referral of any tax arrangements is a reference to the contents of any opinion notice given in relation to a generic referral in respect of the arrangements.]