Chwilio Deddfwriaeth

Finance Act 1998

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Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

136Incorporated friendly societies

(1)In section 170(9) of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992 (meaning of “company” in sections 170 to 181), after the word “and” at the end of paragraph (c) there shall be inserted the following paragraph—

(cc)an incorporated friendly society within the meaning of the [1992 c. 40.] Friendly Societies Act 1992; and.

(2)In subsection (2) of section 171 of that Act (transfers within a group), after the word “or” at the end of the paragraph (cc) inserted by section 135 above there shall be inserted the following paragraph—

(cd)a disposal by or to a qualifying friendly society; or

(3)After subsection (4) of that section there shall be inserted the following subsection—

(5)In subsection (2)(cd) above “qualifying friendly society” means a company which is a qualifying society for the purposes of section 461B of the Taxes Act (incorporated friendly societies entitled to exemption from income tax and corporation tax on certain profits).

(4)Subsection (1) above applies for the purpose of determining, in relation to times on and after 17th March 1998, whether a friendly society is a company within the meaning of the provisions of sections 170 to 181 of the [1992 c. 12.] Taxation of Chargeable Gains Act 1992.

(5)Subsections (2) and (3) above apply in relation to disposals made on or after 17th March 1998.

Yn ôl i’r brig

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