Section 257PC | Compliance certificates ^F1

(1)For the purposes of this Chapter, a “compliance certificate” is a certificate which—^F1

(a)is issued by the social enterprise in respect of the investment,^F1

(b)states that, except so far as they fall to be met by or in relation to the individual, the requirements for SI relief are for the time being met in relation to the investment, and^F1

(c)is in such form as the Commissioners for Her Majesty's Revenue and Customs may direct.^F1

(2)Before issuing a compliance certificate, the social enterprise must provide an officer of Revenue and Customs with a compliance statement in respect of the investment.^F1

(3)The social enterprise must not issue a compliance certificate without the authority of an officer of Revenue and Customs.^F1

(4)If the social enterprise, or a person connected with the social enterprise, has under section 257SF given a notice to an officer of Revenue and Customs that relates (whether or not exclusively) to the investment, a compliance certificate must not be issued unless the authority mentioned in subsection (3) of this section is given or renewed after receipt of the notice.^F1

(5)If—^F1

(a)an officer of Revenue and Customs has been requested to give or renew an authority to issue a compliance certificate, and^F1

(b)an officer of Revenue and Customs has decided whether or not to do so,^F1

an officer of Revenue and Customs must give notice of the decision to the social enterprise.

(6)For the purposes of the provisions of TMA 1970 relating to appeals, the refusal of an officer of Revenue and Customs to authorise the issue of a compliance certificate is taken to be a decision disallowing a claim by the social enterprise.^F1

(7)In the case of requirements that cannot be met until a future time, references in this section to requirements being met for the time being are to nothing having occurred to prevent their being met.^F1