S.L. 123.190 Art. 6Revocation of certificate.

(1) Where the competent authority has issued a certificate confirming that an organisation satisfied the conditions for exemption as provided in rule 5, and:

(a) it later results that the organisation was not actually entitled to the exemption; or

(b) the organisation does no longer satisfy the conditions for the exemption, the competent authority shall revoke the certificate and shall inform the Commissioner for Revenue the year as from which the revocation is effective.

(2) The effect of a revocation of the certificate is that the organisation in question will be treated as never having been exempt from tax for the years of assessment to which the revocation applies, and the provisions of the Income Tax Acts, including those relating to the obligation to pay the tax, interest for late payment and additional tax for omissions and defaults, shall apply accordingly.