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Share schemes: returns of information.
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19.— (1) The Principal Act is amended—
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(a) in section 510 by inserting the following after subsection (7):
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“(8) Without prejudice to subsection (7) the trustees of an approved scheme shall as respects any year, prepare and deliver to the Revenue Commissioners on or before 31 March in the year following that year, a return in the prescribed form (within the meaning of section 951) of such particulars relating to the approved scheme for that year as may be required by the prescribed form and sections 1052 and 1054 shall apply to a failure by the trustees to deliver a return in accordance with this subsection as they apply to a failure to deliver a return referred to in section 1052.”,
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(b) in Schedule 12 by inserting the following after paragraph 3(4):
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“(5) Without prejudice to subparagraph (4) the trustees of a trust shall as respects any year, prepare and deliver to the Revenue Commissioners on or before 31 March in the year following that year, a return in the prescribed form (within the meaning of section 951) of such particulars relating to the trust for that year as may be required by the prescribed form and sections 1052 and 1054 shall apply to a failure by the trustees to deliver a return in accordance with this subparagraph as they apply to a failure to deliver a return referred to in section 1052.”,
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(c) in Schedule 12A by inserting the following after paragraph 6:
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“6A. Without prejudice to paragraph 6 the trustees of an approved scheme shall as respects any year, prepare and deliver to the Revenue Commissioners on or before 31 March in the year following that year, a return in the prescribed form (within the meaning of section 951) of such particulars relating to the approved scheme for that year as may be required by the prescribed form and sections 1052 and 1054 shall apply to a failure by the trustees to deliver a return in accordance with this paragraph as they apply to a failure to deliver a return referred to in section 1052.”,
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(d) in Schedule 12C by inserting the following after paragraph 20:
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“20A. Without prejudice to paragraph 20 the trustees of an approved scheme shall as respects any year, prepare and deliver to the Revenue Commissioners on or before 31 March in the year following that year, a return in the prescribed form (within the meaning of section 951) of such particulars relating to the approved scheme for that year as may be required by the prescribed form and sections 1052 and 1054 shall apply to a failure by the trustees to deliver a return in accordance with this paragraph as they apply to a failure to deliver a return referred to in section 1052.”,
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and
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(e) in Schedule 29, column 3, by inserting—
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(i) “section 510(8)” before “section 531 and regulations under that section”, and
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(ii) “Schedule 12, paragraph 3(5); Schedule 12A, paragraph 6A; Schedule 12C, paragraph 20A;” before “Schedule 23, paragraph 3(2)(a)”.
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(2) Subsection (1) shall apply as on and from 1 January 2009.
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