SCHEDULES

SCHEDULE 1Consequential amendments

Part 1Income and Corporation Taxes Act 1988

188

(1)

Section 486 (industrial and provident societies and co-operative associations) is amended as follows.

(2)

In subsection (1)—

F1(a)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)

for “the purposes of corporation tax” substitute “ those purposes ”.

(3)

In subsection (4) at the end insert “for the purposes of corporation tax”.

(4)

Omit subsection (5).