Section 259BA | References to equivalent provision to this Part under the law of a territory outside the United Kingdom

(1)A reference in this Part to provision under the law of a territory outside the United Kingdom that is equivalent to—

(a)this Part, or

(b)a provision of this Part,

is to be read in accordance with subsection (2).

(2)The reference is to provision under the law of a territory outside the United Kingdom that it is reasonable to suppose—

(a)is based on the Final Report on Neutralising the Effects of Hybrid Mismatch Arrangements published by the Organisation for Economic Cooperation and Development (“OECD”) on 5 October 2015 or any replacement or supplementary publication, and

(b)has effect for the same, or similar, purposes to this Part or (as the case may be) the provision of this Part.

(3)In paragraph (a) of subsection (2) “replacement or supplementary publication” means any document that is approved and published by the OECD in place of, or to update or supplement, the report mentioned in that paragraph (or any replacement of, or supplement to, it).