# The Friendly Societies (Provisional Repayments for Exempt Business) Regulations 1999, Regulation 12: Modifications of paragraph 6 of Schedule 19AB


(1) Paragraphs (2) and (3) specify modifications of paragraph 6 of Schedule 19AB in relation to exempt business of a friendly society.
(2) In sub-paragraph (1) after the definition of “provisional repayment period” there shall be added the following definition–
““tax exempt business” means any business of a friendly society the profits arising from which are exempt from income tax and corporation tax under section 460(1), 461(1) or 461B(1).”
(3) In sub-paragraph (4) for the words “an insurance company” there shall be substituted the words “a friendly society”.

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Source: https://www.legislation.gov.uk/uksi/1999/622/regulation/12 (the official version)
Page: https://openlegislation.uk/friendly-societies-provisional-repayments-for-exempt-business-regulations-1999/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.