3443.This paragraph derives from paragraph 3(1) of Schedule 9 to ICTA. The rewritten legislation includes the use of a new label, a “disqualifying event”. This expression does not occur in Schedule 9 to ICTA, but it does occur in the SIP code and in the EMI code.
3444.Sub-paragraph (1) has been expanded to include a requirement that the Inland Revenue give notice of their withdrawal of approval. See Change 170 in Annex 1.
3445.Paragraphs 3(2) and (3) of Schedule 9 to ICTA relate to approved profit sharing schemes.
Commentary on Sections Overview Part 7: Approval of schemes Paragraph 30: Withdrawal of approval