Commentary on Sections Overview Overview Section 940: Exception from duty to retain bonds
2861.This section makes provision for cases where it is impracticable for the debtor to retain bonds. It is based on section 582(2) of ICTA.
2862.The duty to deduct (which under section 939 becomes a duty to retain bonds) does not apply if the debtor notifies the Commissioners for Her Majesty’s Revenue and Customs of the details required by subsection (2).