SCHEDULES

SCHEDULE 36Promoters of tax avoidance schemes: partnerships

PART 2Conduct notices and monitoring notices

Persons leaving a partnership: monitoring notices

9

1

Sub-paragraphs (2) and (3) apply where—

a

a person (“P”) who was a controlling member of a partnership at the time when a monitoring notice was given to the partnership has ceased to be a member of the partnership,

b

the monitoring notice had effect in relation to the partnership at the time of that cessation, and

c

P is carrying on a business as a promoter.

2

An authorised officer may give P a monitoring notice.

3

If P is carrying on a business as a promoter in partnership with one or more other persons, and is a controlling member of that partnership (“the new partnership”), an authorised officer may give a monitoring notice to the new partnership.

4

A monitoring notice given under sub-paragraph (3) ceases to have effect if P ceases to be a member of the new partnership.