Section 27 Exemptions.

United Kingdom

(1)

The Board and every wholly owned subsidiary of the Board shall be exempt from corporation tax.

F1(2)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)

M1The provisions of the Moneylenders Act 1900 to 1927 and the Moneylenders Acts (Northern Ireland) 1900 to 1969 shall not apply—

(a)

to F2. . .the Board; or

(b)

to any body corporate the whole of whose issued share capital is held by or on behalf of the Board.

Annotations

F1: S. 27(2) repealed (21.3.1997) by 1995 c. 24, s. 13(2), Sch. 2 Pt. I (with saving in s. 11(8)); S.I. 1997/1139, art. 2
F2: Words in s. 27(3) repealed (21.3.1997) by 1995 c. 24, s. 13(2), Sch. 2 Pt. I (with saving in s. 11(8)); S.I. 1997/1139 art. 2