Taxation (International and Other Provisions) Act 2010 section Schedule 7A paragraph 3

Regulations supplementing paragraphs 1 and 2

Schedule 7A paragraph 3 gives HMRC the power to make regulations setting out detailed procedural and eligibility rules for appointing (or revoking the appointment of) a company as the reporting body for a multinational group's interest restriction returns.

• HMRC may make regulations prescribing the form, manner and timing of an appointment or its revocation.
• Regulations may require persons to provide information to HMRC in connection with making or revoking an appointment.
• Regulations may set eligibility conditions that a company must satisfy before it can be appointed as the reporting company.
• Regulations may provide that an appointment or revocation has no effect, or ceases to have effect, if specified requirements are not met.