Version Superseded: 01/04/2009
Point in time view as at 30/11/2003. This version of this provision has been superseded.
There are currently no known outstanding effects for the Finance Act 2002, Paragraph 91.
91(1)Where—
(a)there is an amalgamation of two or more societies to which this paragraph applies or a transfer of engagements from one such society to another, and
(b)in the course of or as part of the amalgamation or transfer of engagements, there are transferred from one society (“the transferor”) to another (“the transferee”) intangible fixed assets that are chargeable intangible assets in relation to the transferor immediately before the transfer and in relation to the transferee immediately after the transfer,
the transfer of those assets is treated for the purposes of this Schedule as tax-neutral (see paragraph 140).
(2)The societies to which this paragraph applies are—
(a)a building society,
(b)a registered industrial and provident society within the meaning of section 486 of the Taxes Act 1988, and
(c)a co-operative association in relation to which subsections (1) and (8) of that section have effect as they have effect in relation to a registered industrial and provident society.
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