Regulation 2 Friendly societies subject to the same basic rules as mutual insurersI1

United Kingdom

The Corporation Tax Acts^f1, in so far as they apply to—

(a)

the life assurance business and other long-term business carried on by friendly societies,

(b)

any part of the business of an insurance company which is exempt from corporation tax as a result of section 158 or section 166 (transfers from friendly societies to insurance companies etc) of FA 2012, or

(c)

any part of the business of a friendly society which is exempt from corporation tax as a result of section 167 of FA 2012 (transfers between friendly societies),

have effect with the modifications specified in regulations 3 to 15.

Annotations

Commencement

I1: Reg. 2 in force at 31.12.2012, see reg. 1(1)

Footnotes

f1: “The Corporation Tax Acts” is defined in Schedule 1 to the Interpretation Act 1978 (c. 30) as meaning the enactments relating to the taxation of the income and chargeable gains of companies and of company distributions.