SCHEDULES

SCHEDULE 22U.K. Prevention of exploitation of Schedule 20 to Finance Act 1994

Part IVU.K. Interpretation

Relevant arrangements for purposes of paragraph 10U.K.

19U.K.Any arrangements under which income arises at irregular intervals during the years 1994-95 to 1997-98 are relevant arrangements for the purposes of paragraph 10 above unless—

(a)the arrangements are made exclusively for bona fide commercial reasons; or

(b)the obtaining of a tax advantage is not the main benefit that could reasonably be expected to arise from the making of the arrangements.