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2(1)The following subsection—U.K.
“(0)In this section “bank” has the meaning given by section 840A.”,
shall be inserted in the Taxes Act 1988 in accordance with sub-paragraph (2) below.
(2)The subsection shall be inserted—
(a)in section 234A (information relating to distributions), after subsection (8), as subsection (8A);
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(d). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3)In Schedule 20 to the Taxes Act 1988 (charities: qualifying investments and loans), in paragraph 7 (certain deposits with banks to be qualifying investments), after sub-paragraph (2), there shall be inserted the following sub-paragraph—
“(3)In this paragraph “bank” has the meaning given by section 840A.”
(4)The provisions of paragraph 10 of that Schedule shall become sub-paragraph (1) of that paragraph and after that sub-paragraph there shall be inserted the following sub-paragraph—
“(2)In this paragraph “bank” has the meaning given by section 840A.”
Textual Amendments
F1Sch. 37 para. 2(2)(b)(c)(d) repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
F23U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F2Sch. 37 para. 3 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
F34U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F3Sch. 37 para. 4 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
5U.K.In Schedule 20 to the M1Taxes Act 1988, in paragraphs 7(1) and 10, for “an institution authorised under the Banking Act 1987” there shall in each case be substituted “ a bank ”.
Marginal Citations
6U.K.The amendments of the Taxes Act 1988 made by paragraphs 2 to 5 above apply as mentioned in paragraphs 7 to 10 below.
7U.K.The amendment of section 234A applies in relation to payments made on or after the day on which this Act is passed.
F48U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F4Sch. 37 para. 8 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
F59U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 37 para. 9 repealed (6.4.2007) by Income Tax Act 2007 (c. 3), s. 1034(1), Sch. 3 Pt. 1 (with Sch. 2)
10U.K.The amendments of paragraphs 7 and 10 of Schedule 20 apply in relation to deposits made or, as the case may be, money placed on or after the day on which this Act is passed.