Supplementary Order Paper No 38

Clause 30(1): new section FH 15(1)

Replace the definition of structured arrangement (page 48, lines 6 to 13) with:

structured arrangement, for a person, means an arrangement to which the person or a member of the person’s control group is a party—


for which—


a transaction under or involving the arrangement has a price that assumes the existence of a hybrid mismatch:


the facts or circumstances indicate that the arrangement is intended to rely on or produce a hybrid mismatch; and


under which the person, or a member of the person’s control group, can reasonably be expected to be aware of—


a tax benefit for the person that arises from the hybrid mismatch:


the existence of the hybrid mismatch