Clause 149 - Non-resident companies: assessment,
Finance Bill
4:30 pm
Mr Nicholas Winterton (Macclesfield, Conservative)
With this it will be convenient to discuss amendment No. 96, in
clause 149, page 89, line 34, at end insert—
' ''independent agent'', in relation to a non-resident company, means any person who is the non-resident company's UK representative in respect of any agency from the non-resident company in which he was acting on the non-resident's behalf in an independent capacity; and a person shall not be regarded as acting in an independent capacity on behalf of a non-resident company unless, having regard to its legal, financial and commercial characteristics, the relationship between them is a relationship between persons carrying on independent businesses that deal with each other at arm's length;'.