Part 7

Community investment tax relief
Chapter 2

Accredited community development finance institutions

Terms and conditions of accreditation
341
1
An accreditation under this Chapter must—
a
be made on—
i
any terms required by regulations, and
ii
any other terms the Secretary of State considers appropriate, and
b
be made conditional on compliance with—
i
any requirements imposed by regulations, and
ii
any other requirements the Secretary of State considers appropriate.
2
The requirements that may be imposed by virtue of subsection (1)(b) include requirements relating to the provision of information.
3
Regulations may—
a
make provision for appeals to the tribunal against refusals to grant accreditation under this Chapter,
b
make provision about the consequences of a failure to comply with any requirement of an accreditation, including—
i
provision for the withdrawal of the accreditation with effect from the time of the failure or a later time, and
ii
provision for the imposition of penalties,
c
make provision for the making of decisions by the Secretary of State as to any matter required to be decided for the purposes of the regulations,
d
make different provision for different cases or circumstances or in relation to different areas, and
e
contain incidental, supplemental, consequential and transitional provision and savings.
3A
Regulations under this section may include provision for the purposes of Part 7 of CTA 2010 in addition to provision made for the purposes of this Part.
4
In this section “regulations” means regulations made by the Treasury.
Pt. 7 modified by 2005 c. 7, s. 54A (as inserted (10.7.2008) by The Alternative Finance Arrangements (Community Investment Tax Relief) Order 2008 (S.I. 2008/1821), arts. 1, 2)
S. 341(3A) inserted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 509 (with Sch. 2)
Word in s. 341(3)(a) substituted (1.4.2009) by The Transfer of Tribunal Functions and Revenue and Customs Appeals Order 2009 (S.I. 2009/56), art. 1(2), Sch. 1 para. 451