87(1)This paragraph applies where a company tax return is delivered by a friendly society which is required by section 47 of the M1Friendly Societies Act 1992 to cause an investigation to be made into its financial condition at least once in every period of three years.
(2)Where this paragraph applies—
(a)the society may make any amendments of its return arising from the relevant investigation at any time within 15 months from the date as at which that investigation is carried out, and
(b)the Inland Revenue may give notice of enquiry into the return at any time up to 27 months from that date.
(3)“The relevant investigation” means—
(a)if the return is for a period as at the end of which there is carried out an investigation under section 47 of the M2Friendly Societies Act 1992 into the financial condition of the society, that investigation;
(b)if the return is not for such a period, the first such investigation to be made into the financial condition of the company as at the end of a subsequent period.