SCHEDULES
SCHEDULE 16Property authorised investment funds and co-ownership authorised contractual schemes
PART 3Consequential amendments
9
1
Section 87 (interest on unpaid tax) is amended as follows.
2
In subsection (3)—
a
in paragraph (a)—
i
omit “or” at the end of sub-paragraph (ii), and
ii
after sub-paragraph (ii) insert—
iia
paragraph 5, 7 or 8 of Schedule 7A (PAIF seeding relief),
iib
paragraph 13, 17 or 18 of Schedule 7A (COACS seeding relief), or
b
after paragraph (aza) insert—
azb
in the case of an amount payable under paragraph 6(3) of Schedule 7A (PAIF seeding relief: portfolio test), the first time mentioned in paragraph 6(3)(a) or (b) at which the portfolio test was not met;
azc
in the case of an amount payable under paragraph 14(1) of Schedule 7A (COACS seeding relief: genuine diversity of ownership condition) because the genuine diversity of ownership condition was not met at a time mentioned in paragraph 14(1)(b) or (c), the first time mentioned in paragraph 14(1)(b) or (c) at which that condition was not met;
azd
in the case of an amount payable under paragraph 16(3) of Schedule 7A (COACS seeding relief: portfolio test), the first time mentioned in paragraph 16(3)(a) or (b) at which the portfolio test was not met;
3
In subsection (4), for “means—” to the end substitute “
has the same meaning as in section 81(4).
”