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Regulation 3 Application of Schedule 19AB – general

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

(1)

Schedule 19AB shall have effect, in accordance with paragraphs (2) and (3) below, in relation to exempt business of a friendly society as it has effect in relation to the pension business of an insurance company.

(2)

Schedule 19AB, as it is deemed to have effect, by virtue of paragraph 12(1) of Schedule 3 for the purposes of section 121 of the Finance Act 1993, without the amendments made by Schedule 3, shall have effect as mentioned in paragraph (1) above with the modifications and exceptions specified in regulations 4, 5 and 8 to 12.

(3)

Schedule 19AB, as it has effect, by virtue of paragraph 12(2) of Schedule 3 for the purposes of section 121 of the Finance Act 1993, with the amendments made by Schedule 3, that is to say, in relation to distributions made to friendly societies on or after 6th April 2004, shall have effect as mentioned in paragraph (1) above with the modifications and exceptions specified in regulations 6 to 12.