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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 31 March 2012 - onwards

126. Security for certain taxes.

(1) The Principal Act is amended by inserting the following after section 960R (inserted by section 125):

"960S.

(1) In this section -

'business' means a business that was or is carried on by a company or partnership and includes a business that was or is carried on by an individual;

'connected person' means a person connected with another person within the meaning of section 10;

'management of the business' includes acting in a capacity such that the person was or is able, directly or indirectly, to control the management of that business either as a connected person or otherwise;

'tax' means -

(a) income tax deductible in accordance with Chapter 4 of Part 42 and any regulations made under that Chapter,

(b) tax deductible in accordance with Chapter 2 of Part 18 and any regulations made under that Chapter,

(c) universal social charge chargeable in accordance with Part 18D, or

(d) value-added tax chargeable in accordance with the Value-Added Tax Acts.

(2) The Collector-General may require a person carrying on a business to give security, or further security, of such amount and in such form as the Collector-General considers appropriate for the payment of tax that is, or may become, due from that person -