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11.—(1) Paragraphs (2) and (3) prescribe modifications of section 432AB of the Taxes Act(1) so far as it applies to the life or endowment business carried on by friendly societies.
(2) In subsection (3) before “basic” insert “taxable”.
(3) In subsection (4) before “basic” insert “taxable”.
Section 432AB was inserted by paragraph 39 of Schedule 5 to the Finance Act 1998.
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