Part 38 of the Principal Act is amended -

(a) in section 891E -

(i) in subsection (8) -

(I) in paragraph (a), by the substitution of "Subject to subsection (8A), section 898O" for "Section 898O", and

(II) in paragraph (b), by the substitution of "Subject to subsection (8A), a person who" for "A person who",

and

(ii) by the insertion of the following subsection after subsection (8) -

"(8A)

(a) Where a trust or partnership would, but for the operation of this subsection, be liable to a penalty pursuant to paragraph (a) or (b) of subsection (8), the liable person of the trust or partnership shall be liable to the penalty.

(b) For the purpose of paragraph (a), and subject to paragraph (c), ‘liable person’ means, in relation to -

(i) a partnership, the precedent partner (within the meaning of section 1007) of the partnership,

(ii) a trust which is not an investment undertaking, the trustees of the trust, and