This is the original version (as it was originally enacted).
16(1)In section 644 of the Taxes Act 1988 (meaning of “relevant earnings” for the purposes of Chapter IV of Part XIV of that Act) in subsection (6) for the definition of “investment income” there shall be substituted—
““investment income” means income which, if the company were an individual, would not be earned income.”
(2)This paragraph shall have effect in relation to accounting periods beginning after 31st March 1989.
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