Insertion of regulation 9A
This section has no associated Explanatory Memorandum
10. After regulation 9 insert—
“Modification of section 432B of the Taxes Act
9A.—(1) Paragraph (2) prescribes a modification of section 432B of the Taxes Act(1) so far as it applies to life or endowment business carried on by friendly societies.
(2) Omit subsections (5) to (12).”
(1)
Section 432B was relevantly amended by article 6 of S.I. 2005/3465, article 3 of S.I. 2006/1358and paragraph 16(6) to (12) of Schedule 7 to the Finance Act 2007.