SCHEDULES

SCHEDULE 5U.K.Enterprise management incentives

Part 7U.K.Notification of option to inland revenue

Completion of enquiry: application for closure notice to be givenU.K.

48(1)An application may be made [F1to the tribunal] under this paragraph for a direction requiring [F2an officer of Revenue and Customs] to give a closure notice within a specified period.U.K.

(2)The application may be made—

(a)by the employer company, or

(b)in a case within paragraph 46(3), by the individual concerned.

F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F4(4)Any such application is to be subject to the relevant provisions of Part 5 of TMA 1970 (see, in particular, section 48(2)(b) of that Act).]

(5)[F5The tribunal] must give a direction unless F6... satisfied that [F2an officer of Revenue and Customs] [F7has] reasonable grounds for not giving a closure notice within a specified period.