Clause 26 - Penalty for contravention of relevant rule
Finance Bill
10:45 am
Mr Jonathan Djanogly (Huntingdon, Conservative)
Subsection (3) is an enabling power. I though that the outline given in subsection (1) would be sufficient, but I then had a closer look at the wording. In the definitions, ''prescribed'' is defined as meaning specified in or determined in accordance with the regulations made by the Treasury. That leads me to ask the Economic Secretary a few questions.
When the definition refers to the regulations made by the Treasury, does that mean that the Treasury must bring those regulations to the House for approval, or can it make them up as it goes along? Is subsection (3) intended to get around the need to bring regulations to the House by allowing the Treasury to do what it wants, even if it must bring regulations to the House on other occasions? The provisions seem to be circular and I wonder whether subsection (3) is a way of getting round subsection (1).