{
  "url": "https://openlegislation.uk/finance-act-1993/schedule-17/paragraph-3",
  "json_url": "https://openlegislation.uk/finance-act-1993/schedule-17/paragraph-3.json",
  "legislation": "ukpga/1993/34",
  "legislation_title": "Finance Act 1993",
  "legislation_url": "https://openlegislation.uk/finance-act-1993",
  "path": "schedule/17/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) For the purposes of paragraph 2 above a company holds currency in exempt circumstances at a given time if—\n(a) the purposes for which it then holds the currency are or include any of the purposes mentioned in sub-paragraph (2) below,\n(b) it is a housing association approved at that time for the purposes of section 488 of the Taxes Act 1988, or\n(c) it is a self-build society approved at that time for the purposes of section 489 of that Act.\n(2) The purposes referred to in sub-paragraph (1)(a) above are—\n(a) the purposes of long-term insurance business;\n(b) the purposes of mutual insurance business;\n(c) the purposes of the occupation of commercial woodlands.\n(3) In this paragraph—\n“long-term insurance business” means business which consists of the effecting or carrying out of contracts which fall within Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;\n“commercial woodlands” means woodlands in the United Kingdom which are managed on a commercial basis and with a view to the realisation of profits.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 17 para. 3(2)(a) substituted (1.12.2001) by S.I. 2001/3629, arts. 1(2), 81(2)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Definition in Sch. 17 para. 3(3) substituted (1.12.2001) by S.I. 2001/3629, arts. 1(2), 81(2)(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Sch. 17 para. 3 applied (with modifications) (29.4.1996) by 1992 c. 12, ss. 117A, 117B (as inserted (29.4.1996) by 1996 c. 8, s. 104, Sch. 14 para. 62)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1993/34/schedule/17/paragraph/3",
    "retrieved_at": "2026-10-29T09:34:56.691459+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}