Clause 3

in subsection (1), delete “whilst the business facility is under the operational control of a person in any year (called in this Part a trigger year), then the person” and substitute “in any year (called in this Part a trigger year), then the person mentioned in subsection (1A)”;

after subsection (1), insert —“(1A) The person for the purpose of subsection (1) is the person having operational control over the business facility on 31 December of the trigger year.”; and

delete subsection (5) and substitute —“(5) Without affecting subsection (1), where —

a person (X) —

is a registered person of a business facility that is a reportable facility, or both a reportable facility and a taxable facility; or

is not a registered person of a business facility but had operational control over the business facility on 31 December of a trigger year in relation to the business facility; and

X transfers operational control over the business facility to another person (Y),then Y must apply to the Agency —

to be registered as a registered person; and

to register the business facility as a reportable facility or as both a reportable facility and a taxable facility (as the case may be), of Y.(6) Subsection (5)(c) does not apply if Y is already a registered person.(7) To avoid doubt, a business facility may be registered as a reportable facility, or both a reportable facility and a taxable facility, of more than one registered person.”.