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(1)The following bodies, namely—
(a)Transport for London,
(b)the Metropolitan Police Authority, and
(c)the London Fire and Emergency Planning Authority,
shall each be treated as a local authority for the purposes of the enactments mentioned in subsection (2) below.
(2)The enactments are—
(a)section 519 of the [1988 c. 1.] Income and Corporation Taxes Act 1988 (exemption of local authorities from income and corporation taxes); and
(b)section 271 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (exemption of local authorities from capital gains tax).
(3)In sections 170 to 181 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (groups of companies) references to a company do not apply to Transport for London.
(4)Schedule 33 to this Act (which makes further provision about taxation) shall have effect.
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