Trustee Savings Banks Act 1985

Interpretation

9 (1) In this Schedule—

• " exempt investment" has the same meaning as in Schedule 11 to the [1980 c. 48.] Finance Act 1980 ;

• " further successor ", in relation to the successor to an existing bank, means any body to which the bank's business, or any part of that business, is transferred after having been assumed by the successor ;

• "the Taxes Act" means the [1970 c. 10.] Income and Corporation Taxes Act 1970 ;

• " trading stock investment" means any investment on the disposal of which any gain or loss accruing would be treated as a trading profit or, as the case may be, loss for the purposes of Case I of Schedule D ; and

• " transferee " and " transferor ", in relation to any transfer of property, rights, liabilities or obligations effected by section 3 above, means respectively the person to whom and the person from whom they are so transferred.

(2) Paragraph 1 above shall be construed as one with the provisions mentioned there and the other provisions of this Schedule shall be construed, so far as they relate to corporation tax, as one with the Corporation Tax Acts and, so far as they relate to capital gains tax, as one with the [1979 c. 14.] Capital Gains Tax Act 1979.