SCHEDULES

SCHEDULE 20 U.K. CHARITIES: QUALIFYING INVESTMENTS AND LOANS M1

Marginal Citations

M1 Source—1986 c. 60 Sch. 7 Pts. II—IV.

PART I U.K. QUALIFYING INVESTMENTS

7 (1) Deposits with [F1 a bank] in respect of which interest is payable at a commercial rate.

(2) A deposit mentioned in sub-paragraph (1) above is not a qualifying investment if it is made as part of an arrangement under which a loan is made by the authorised institution to some other person.

[F2 (3) In this paragraph “bank” has the meaning given by section 840A.]

Textual Amendments

F1 Words in Sch. 20 para. 7(1) substituted (with application in accordance with Sch. 37 para. 10 of the amending Act) by Finance Act 1996 (c. 8), Sch. 37 para. 5)

F2 Sch. 20 para. 7(3) inserted (with application in accordance with Sch. 37 para. 10 of the amending Act) by Finance Act 1996 (c. 8), Sch. 37 para. 2(3)