# Finance Act 1998, Paragraph 32

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

(1) Paragraph 12 of Schedule 25 to the Taxes Act 1988 (meaning of “holding company" in paragraphs 6 and 8(3)) shall be amended as follows.
(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(3) In sub-paragraph (5) (exclusion of income derived from certain sources) in paragraph (a)—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) after “engaged in exempt activities" there shall be inserted “ or, in terms of sub-paragraph (5A) of that paragraph, is an exempt trading company ”.

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Source: https://www.legislation.gov.uk/ukpga/1998/36/schedule/17/paragraph/32 (the official version)
Page: https://openlegislation.uk/finance-act-1998/schedule-17/paragraph-32
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.