The Friendly Societies (Provisional Repayments for Exempt Business) Regulations 1999

Interpretation

2.  In these Regulations unless the context otherwise requires–

“exempt business” means any business of a friendly society the profits arising from which are exempt from income tax and corporation tax under section 460(1)(1), 461(1) or 461B(1)(2) of the Taxes Act, not being a business carried on by a friendly society all of whose profits are so exempt;

“Schedule 3” means Schedule 3 to the Finance (No. 2) Act 1997(3);

“Schedule 19AB” means Schedule 19AB to the Taxes Act(4);

“the Taxes Act” means the Income and Corporation Taxes Act 1988(5).

(1)

Section 460(1) was amended by paragraph 5 of Schedule 9 to the Finance (No. 2) Act 1992 (c. 48).

(2)

Section 461B was inserted by paragraph 7 of Schedule 9 to the Finance (No. 2) Act 1992.

(3)

1997 c. 58.

(4)

Schedule 19AB was inserted by Schedule 8 to the Finance Act 1991 (c. 31).

(5)

1988 c. 1.