Clause 149 - Non-resident companies: assessment,
Finance Bill
4:30 pm
Mr Stephen O'Brien (Eddisbury, Conservative)
I beg to move amendment No. 95, in
clause 149, page 89, line 15, at end insert—
'(3A) Where the UK representative of a non-resident company is a person separate from that company it shall be entitled—
(a) to be indemnified in respect of any liability that it discharges as mentioned in subsection (3)(a) above; and
(b) to retain, out of any sums otherwise due from it to the non-resident company, or received by it on behalf of the non-resident company, amounts sufficient for meeting any obligations or liabilities that he has under subsection (1) above or has discharged as mentioned in subsection (3)(a) above.
(3B) The obligations relating to the furnishing of information which are imposed by this section on the UK representative in a case where that representative is an independent agent shall not require that representative to do anything except so far as it is practicable for the representative to do so by acting to the best of his knowledge and belief after having taken all reasonable steps to obtain the necessary information.
(3C) Subsection (3B) above shall not have the effect of discharging the non-resident company from any obligation to furnish information in a case where that obligation has been discharged by its UK representative by virtue only of subsection (3B) above.'.