Part 15Deduction of income tax at source
Chapter 2Meaning of “relevant investment” for purposes of section 876
Deposit-takers and relevant investments
854Power to prescribe persons as deposit-takers
(1)
This section applies to a person who receives deposits in the course of carrying on business or activities and—
(a)
is for the time being prescribed by order by the Treasury for the purposes of this section, or
(b)
is a member of a class of persons which is for the time being so prescribed.
(2)
An order under this section may prescribe a person or class of person—
(a)
in relation to all deposits which are relevant investments, or
(b)
in relation to deposits which are relevant investments of a kind specified in the order.
(3)
If a person is prescribed only in relation to deposits which are relevant investments of a kind specified in the order, the reference in section F1876(1)(b) to “relevant investment” is to be read as a reference only to relevant investments of the kind so specified.