Corporation Tax Act 2009 section 1324

Power to undo changes

Section 1324 gives the Treasury a time-limited power to correct, by order, any unintended changes in the law that resulted from the rewriting process behind the Corporation Tax Act 2009.

• The Treasury may make an order to restore the law to the effect it would have had if the Act had not been passed, where a provision of the Act is considered to have changed the law.
• This corrective power expired on 31 March 2012, reflecting the view that successive Finance Acts would make later corrections increasingly difficult.
• An order under this section can amend, repeal or revoke provisions in the Act itself or in any other Act, including Acts of the Scottish Parliament and Northern Ireland legislation.
• Orders may have retrospective effect and may include incidental, supplemental, consequential and transitional provisions and savings.