54Community investment tax reliefU.K.
(1)Paragraph 35 of Schedule 16 to FA 2002 (community investment tax relief) is amended as follows.
(2)After sub-paragraph (1) insert—
“(1A)But if the investor is a bank, the investor does not receive value from the CDFI when the CDFI makes a deposit with the investor in the course of its ordinary banking arrangements.”
(3)In subsection (5), after “paragraph—” insert—
““bank” has the meaning given by section 840A of the Taxes Act 1988;”.
(4)The amendments made by this section are treated as always having had effect.