SCHEDULES

SCHEDULE 37 Banks

Part II Amendments of the Taxes Act 1988

Provisions in which new meaning of “bank” applies

2

1

The following subsection—

0

In this section “bank” has the meaning given by section 840A.

shall be inserted in the Taxes Act 1988 in accordance with sub-paragraph (2) below.

2

The subsection shall be inserted—

a

in section 234A (information relating to distributions), after subsection (8), as subsection (8A);

b

in section 349 (payment of interest under deduction of tax, etc.), after subsection (3), as subsection (3AA);

c

in section 745 (obligation to furnish information not to apply to banks), after subsection (5), as subsection (5A);

d

in section 816 (obligation to disclose certain particulars to apply to banks), after subsection (3), as subsection (3A).

3

In Schedule 20 to the Taxes Act 1988 (charities: qualifying investments and loans), in paragraph 7 (certain deposits with banks to be qualifying investments), after sub-paragraph (2), there shall be inserted the following sub-paragraph—

3

In this paragraph “bank” has the meaning given by section 840A.

4

The provisions of paragraph 10 of that Schedule shall become sub-paragraph (1) of that paragraph and after that sub-paragraph there shall be inserted the following sub-paragraph—

2

In this paragraph “bank” has the meaning given by section 840A.