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Amendment of section 159C (time limits for making enquiries, etc. and assessments by the Commissioners) of Principal Act.
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129.—(1) Section 159C of the Principal Act is amended in subsection (1)—
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(a) by substituting the following for the definition of “neglect”:
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“ ‘neglect’, in connection with or in relation to a relevant instrument, means—
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(a) subject to paragraph (b), in the case of an instrument or a specified statement, a failure to disclose in the instrument, or as the case may be, in the specified statement, all the facts and circumstances affecting the liability to duty of such instrument or specified statement,
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(b) in the case of an instrument to which section 8(2) applies, as between both the instrument and the statement referred to in that section, a failure to disclose all the facts and circumstances affecting the liability to duty of such instrument, or
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(c) in the case of an instruction of the type referred to in section 76, a failure to enter a correct instruction in a relevant system within the meaning of section 68;”,
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(b) in paragraph (a) of the definition of “relevant instrument” by substituting “specified statement delivered to the Commissioners” for “statement delivered to the Commissioners under any provision of this Act”,
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(c) in the definition of “relevant period” by substituting “was made;” for “was made.”, and
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(d) by inserting the following after the definition of “relevant period”:
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“ ‘specified statement’ means—
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(a) an account delivered to the Commissioners under section 5,
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(b) a statement that is required to be delivered to the registrar under section 117(1)(b), or
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(c) a statement that is required to be delivered to the Commissioners under Part 9.”.
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(2) This section is effective from 3 February 2005.
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