1039Restrictions on chargeability.

[ITA67 s205]

(1) Nothing in this Chapter shall render a non-resident person chargeable in the name of—

(a) a broker or general commission agent, or

(b) an agent, not being—

(i) an authorised person carrying on the regular agency of the non-resident person, or

(ii) a person chargeable as if that person were an agent in pursuance of this Chapter,

in respect of profits or gains arising from sales or transactions carried out through such a broker or agent.

(2) The fact that a non-resident person executes sales or carries out transactions with other non-residents in circumstances which would make that person chargeable in pursuance of this Chapter in the name of a resident person shall not of itself make that person chargeable in respect of profits arising from those sales or transactions.