Taxation (International and Other Provisions) Act 2010 section 371VJ

Regulations

Section 371VJ confirms the scope of regulation-making powers under the controlled foreign companies (CFC) rules in Part 9A of the Act.

• Any regulations made under the CFC rules in Part 9A may include additional supporting provisions beyond their core purpose.
• Such regulations may contain incidental and supplemental provisions — that is, matters that naturally accompany or support the main regulatory content.
• The regulations may also include consequential provisions, addressing knock-on effects that arise from the main rules being introduced or changed.
• Transitional provisions and savings may be included, ensuring a smooth changeover when new rules replace or amend existing ones and protecting positions established under earlier rules.