# Finance Act 1990, Section 49: Friendly societies: increased tax exemption.

Extent: E+W+S+N.I.

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(5) In paragraph 3(8)(b)(ii) of Schedule 15 to that Act (amount of premiums to be disregarded in determining whether a policy meets conditions for it to be a qualifying policy), after the word “premiums” there shall be inserted the words “ or, where those premiums are payable otherwise than annually, an amount equal to 10 per cent. of those premiums if that is greater ”.

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Source: https://www.legislation.gov.uk/ukpga/1990/29/section/49 (the official version)
Page: https://openlegislation.uk/finance-act-1990/section-49
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.