In subsection (1) of section 15 of the Finance Act 1985 (failures to notify and unauthorised issue of invoices)—
in paragraph (a), after the words "paragraphs 3, 4 and 11(2)" there shall be inserted the words "and (3)";
in paragraph (b), for the words "an invoice" there shall be substituted the words "one or more invoices"; and
for the words "30 per cent." there shall be substituted the words "the specified percentage".
In subsection (3) of that section—
in paragraph (a), for the word "discovered" there shall be substituted the words "became fully aware of";
in paragraph (b), after the words "sub-paragraph (2)" there shall be inserted the words "or (3)" and for the word "discovered" there shall be substituted the words "became fully aware of"; and
in paragraph (c), for the words "such an invoice as is" there shall be substituted the words "one or more such invoices as are" and for the words from "the amount" onwards there shall be substituted the wordsthe amount which is, or the aggregate of the amounts which are—ishown on the invoice or invoices as tax, oriito be taken as representing tax.
After that subsection there shall be inserted—
In section 18 of that Act—
subsection (2) (which provides for tax to carry interest in certain cases of conduct falling within section 15(1)(a) of that Act) shall cease to have effect; and
in subsection (3), for the words "If, in a case where subsection (2) does not apply" there shall be substituted the words "In any case where".
Where—
a person is liable to a penalty for conduct falling within paragraph (a) of subsection (1) of section 15 of that Act; and
any relevant tax by reference to which that penalty is to be assessed is payable for a period before 16th March 1988,
that subsection shall apply without the amendment made by subsection (1)(c) above in relation to so much of the assessment as is to be made by reference to that tax.
Subsections (1)(b) and (c), (2)(c) and (3) above shall be deemed to have come into force on 16th March 1988.