Amendments to the Friendly Societies (Modification of the Corporation Tax Acts) Regulations 1997

9.  In regulation 13—

(a) for paragraph (1) substitute—

“(1) Where an annual return society is not required to keep a long-term insurance fund, in respect of its life or endowment business section 432A of the Taxes Act shall apply with the following modifications.”;

(b) omit paragraph (5).