DUTY TO KEEP AND PRESERVE RECORDS

4(A1)  This paragraph applies where a transaction is not notifiable, unless the transaction is a transaction treated as taking place under a provision listed in section 79(2)(a)–(d).

4(1)  The purchaser must–

(a)keep such records as may be needed to enable him to demonstrate that the transaction is not notifiable, and

(b)preserve those records in accordance with this paragraph.

4(2)  The records must be preserved until the end of–

(a)the sixth anniversary of the effective date of the transaction, or

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