PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES

CHAPTER VI MISCELLANEOUS BUSINESSES AND BODIES

512 Atomic Energy Authority and National Radiological Protection Board.

1

M1The United Kingdom Atomic Energy Authority and the National Radiological Protection Board shall be entitled to exemption from income tax and corporation tax—

a

under F1Schedule A;

b

under Schedule D in respect of any yearly interest or other annual payment F2or in respect of public revenue dividends received by the Authority or Board;

c

under Schedule F in respect of distributions received by the Authority or Board.

2

Income arising from investments or deposits held for the purposes of any pension scheme provided and maintained by the Authority shall be treated for the purposes of this section as if that income and the source thereof belonged to the Authority.

F33

In subsection (1) above “public revenue dividends” means—

a

income from securities which is payable out of the public revenue of the United Kingdom or Northern Ireland;

b

income from securities issued by or on behalf of a government or a public or local authority in a country outside the United Kingdom.