Co-operative and Community Benefit Societies Act 2014

Income Tax (Trading and Other Income) Act 2005 (c. 5) E+W+S

92 E+W+S The Income Tax (Trading and Other Income) Act 2005 is amended as follows.

93 E+W+S In sections 367(3) and 369(2) for “industrial and provident society payments” substitute “ payments by registered societies or certain co-operatives ”.

94 (1) Section 379 (industrial and provident society payments) is amended as follows. E+W+S

(2) For the heading substitute “ Payments by registered societies or certain co-operatives ”.

(3) In subsection (1)(a) for “registered industrial and provident society” substitute “ registered society ”.

(4) In subsection (2) for the definition of “registered industrial and provident society” (not including the “and” at the end of it) substitute—

““registered society” means—

(a) a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014, F1 ...

(b) a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969,

[F2 (c) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 ( S.I. 1985/1205 (N.I. 12)), or

(d) an SCE formed in accordance with Council Regulation ( EC ) No 1435/2003 on the Statute for a European Cooperative Society, ”].

Textual Amendments

F1 Word in Sch. 4 para. 94(4) omitted (1.8.2014) by virtue of Finance Act 2014 (c. 26), Sch. 39 paras. 9(a),1515

F2 Words in Sch. 4 para. 94(4) inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 9(b),15

95 E+W+S In section 483(3) (exclusion of credit union group life policies) for paragraph (a) (not including the “or” at the end of it) substitute—

“(a) the Co-operative and Community Benefit Societies Act 2014,”.