Liability for unauthorised tax exemption or refund

(1) The investor under section 8(1) or (2) that does not or no longer satisfies the conditions for a tax exemption at the time the income accrues to the investment fund is liable for the tax wrongly refunded to an investment fund or a unit class, or wrongly not levied on the investment fund or the unit class. Liability is limited to the amount of the exemption amount granted to the investor and not repaid to the investment fund.
(2) The investor under section 8(1) or (2) that transfers an investment unit in an investment fund or a unit class under section 10 to an acquirer who does not satisfy the conditions of section 8(1) or (2) is liable for the tax wrongly refunded to the investment fund or the unit class, or wrongly not levied on the investment fund or the unit class. Liability is limited to the amount of the refunded or non-levied tax attributable to the acquirer and not repaid by the acquirer to the investment fund.
(3) The provider of a retirement provision or basic pension contract is liable for the tax wrongly refunded to an investment fund or a unit class, or wrongly not levied on an investment fund or a unit class. Liability is limited to the amount of the capital gains tax wrongly refunded or not levied on account of incorrect, omitted or late notifications by the provider. Liability is excluded where the provider of a retirement provision or basic pension contract demonstrates that it did not act intentionally or with gross negligence.
(4) The custodian institution is liable for the tax wrongly refunded to an investment fund, or wrongly not levied on an investment fund, on account of an incorrect investment unit holding certificate.
(5) The legal representative of the investment fund is liable for the tax wrongly refunded to an investment fund or a unit class, or wrongly not levied on an investment fund or a unit class, where the legal representative 1. knew, when claiming a tax exemption, or could have recognised on the exercise of reasonable care, that the conditions for the tax exemption were not satisfied, or 2. later recognises that the conditions for a tax exemption were not satisfied, but does not thereupon without delay inform the competent tax authority.
(6) Insofar as the liability extends, the investment fund and the persons liable under subsections (1) to (5) are joint and several debtors. The competent tax authority may assert the tax debt or liability debt against any joint and several debtor according to its duty-bound discretion. Priority is to be given to proceeding against the persons liable under subsections (1) to (5). Where the elements of subsections (1) to (5) are satisfied concurrently, priority is to be given to proceeding against the person liable under subsections (1), (2) or (3), then against the person liable under subsection (4), and lastly against the person liable under subsection (5). Proceeding against the investment fund is excluded insofar as the investment fund demonstrates that it has paid the wrongly granted exemption amount to the investor or to the provider of a retirement provision or basic pension contract, and that recovery against the investor or the provider of a retirement provision or basic pension contract is excluded or unrecoverable.