PART 3AMENDMENTS TO SECONDARY LEGISLATION

The Friendly Societies (Modification of the Corporation Tax Acts) Regulations 1997 (S.I.1997/473)

Modifications of section 432A of the Income and Corporation Taxes Act 1988157

1

Amend regulation 9 (modifications of section 432A of the Taxes Act) as follows.

2

In paragraph (2) in the inserted subsection (1B) in paragraph (a) for “section 46(5) of the Friendly Societies Act 1992” substitute “rule 5.1(3) of the Prudential Sourcebook (Friendly Societies)”.

3

In paragraph (3) in the inserted subsection (1E)—

a

for the words from “Friendly Societies Commission” to “1992” substitute “Financial Services Authority, by giving a direction under section 148 of the Financial Services and Markets Act 2000”;

b

for “subsection (2) of that section” substitute “rule 5.2 of the Prudential Sourcebook (Friendly Societies)”.

4

This Article has effect in relation to periods of account ending on or after 1st December 2001.