Section 35A Variation of undertakings
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Amendments
Section 35A inserted by Finance Act 1998 section 142 and Schedule 25 para 8(1) in relation to undertakings given on or after 31 July 1998.
(1) An undertaking given under section 30, 32 or 32A above or paragraph 5 of Schedule 5 to this Act may be varied from time to time by agreement between the Board and the person bound by the undertaking.
(2) Where [the tribunal]1 is satisfied that—
(a) the Board have made a proposal for the variation of such an undertaking to the person bound by the undertaking,
(b) that person has failed to agree to the proposed variation within six months after the date on which the proposal was made, and
(c) it is just and reasonable, in all the circumstances, to require the proposed variation to be made,
[the tribunal may direct that the undertaking is to have effect from a specified date]2 as if the proposed variation had been agreed to by the person bound by the undertaking.
Amendments
1 Substituted for the words “a Special Commissioner” by S.I. 2009/56 article 3 and Schedule 1 para 109(2)(a) from 1 April 2009.
2 Substituted by S.I. 2009/56 article 3 and Schedule 1 para 109(2)(b) from 1 April 2009.
(3) The date specified by the [tribunal]1 must not be less than sixty days after the date of [the tribunal’s direction]2.
Amendments
1 Substituted for the words “Special Commissioner” by S.I. 2009/56 article 3 and Schedule 1 para 109(3)(a) from 1 April 2009.
2 Substituted for the words “his direction” by S.I. 2009/56 article 3 and Schedule 1 para 109(3)(b) from 1 April 2009.
(4) A direction under this section shall not take effect if, before the date specified by the [tribunal]1, a variation different from that to which the direction relates is agreed between the Board and the person bound by the undertaking.
Amendments
1 Substituted for the words “Special Commissioner” by S.I. 2009/56 article 3 and Schedule 1 para 109(4) from 1 April 2009.
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