(1)A gift of a sum of money that a body receives from a company is not taken into account in calculating total profits if the body receiving the gift qualifies as a scientific research association for the relevant accounting period.
(2)The exemption under subsection (1) requires a claim.
(3)In subsection (1) “the relevant accounting period” means the accounting period for which the exemption is to be claimed.
(4)In the case of a body which qualifies as a scientific research association and is also a charitable company, this section applies instead of section 473.