Part 3Multinational top-up tax
Chapter 10Definitions etc
Provision relating to location of entities
241Pillar Two territories
1
In this Part “Pillar Two territory” means the United Kingdom and every other territory specified as such in regulations made by the Treasury.
2
Regulations may only specify a territory as a Pillar Two territory if the Treasury consider that provisions equivalent to this Part—
a
have effect under the law of that territory, or
b
will have effect under the law of that territory on or before the specification has effect.
3
Regulations under this section may provide that the specification of a territory is to have effect from a time before the regulations are made (but may not provide that the specification of a territory previously specified ceases to have effect before the regulations are made).