10(1)Part 5 of ITA 2007 is further amended as follows.U.K.
(2)In section 198A—
(a)omit subsections (5) and (6) (exception for community-based generation), and
(b)in subsection (9), omit the definitions of “community benefit society”, “co-operative society” and “NI industrial and provident society”.
(3)In section 198B—
(a)omit subsections (3) and (4) (exception for community-based generation or production), and
(b)omit subsection (6) (interpretation of section).
11(1)Part 6 of ITA 2007 is further amended as follows.U.K.
(2)In section 309A—
(a)omit subsections (5) and (6) (exception for community-based generation), and
(b)in subsection (9), omit the definitions of “community benefit society”, “co-operative society” and “NI industrial and provident society”.
(3)In section 309B—
(a)omit subsections (3) and (4) (exception for community-based generation or production), and
(b)omit subsection (6) (interpretation of section).
12U.K.In consequence of paragraphs 10 and 11—
(a)in FA 2014, omit section 56(3)(b) and (6)(b), and
(b)in the Co-operative and Community Benefit Societies Act 2014, omit paragraphs 106 and 107 of Schedule 4.
13(1)Part 5B of ITA 2007 is further amended as follows.U.K.
(2)In section 257MQ(1) (list of excluded activities) omit paragraph (f) (subsidised generation or export of electricity).
(3)Omit section 257MS (subsidised generation or export of electricity).
14(1)The amendments made by this Part of this Schedule have effect in accordance with regulations made by the Treasury.U.K.
(2)Regulations under this paragraph may make different provision for different purposes.
(3)Section 1014(4) of ITA 2007 (regulations etc subject to annulment) does not apply in relation to regulations under this paragraph.
(4)Regulations under this paragraph may not provide for amendments of ITA 2007 to have effect—
(a)in the case of amendments of Part 5 of that Act, in relation to shares issued before 6 April 2015;
(b)in the case of amendments of Part 6 of that Act, in relation to relevant holdings issued before 6 April 2015.