Modification of section 432F(1) of the Taxes Act
15.—(1) Paragraph (2) prescribes a modification of section 432F(1) of the Taxes Act(1) so far as it applies to the life or endowment business carried on by friendly societies.
(2) For the words “section 432E(2)” there shall be substituted the words “subsection (2) or, as the case may be, subsection (2A) of section 432E”.
(1)
Section 432F was inserted by paragraph 17(3) of Schedule 8 to the Finance Act 1995.