Taxation (International and Other Provisions) Act 2010 section 502

Transitional provisions and savings

Section 502 introduces the transitional and saving provisions in Schedule 9 and grants the Treasury power to make additional transitional or saving provisions by order when bringing this Act into force.

• Schedule 9, which contains the transitional provisions and savings for the Act, is given legal effect by this section.
• The Treasury has the power to make further transitional or saving provisions by order, beyond those already set out in Schedule 9, where it considers this appropriate in connection with the Act coming into force.
• Any order made by the Treasury under this section may include provisions that have retrospective effect, meaning they can apply to periods before the order is made.
• This section ensures a smooth changeover from the old legislative rules to the new ones by providing both a fixed set of transitional rules and a flexible mechanism for addressing any further issues that arise during the transition.