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Paragraph 7 Specified income for the relevant year

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In respect of a friendly society which, for a relevant year, is required under section 43 of the 1974 Act to send to the Chief Registrar an annual return in the form of Form A.R.5, the value of the specified income for that relevant year is the sum of the following amounts required to be entered at the following entries in form A (“GENERAL ACCOUNT”) of Form A.R.5:

(a)

the entry for “Contributions For Management”;

(b)

the entry for “Contributions For Benefits (if for various benefits, each to be stated separately)”;

(c)

the entry for “interest on Investments (gross)”; and

(d)

the entry for “Other Income (to be specified)”,

less any amounts entered at the entry for “Other Income (to be specified)” that is not income from interest on investments.