Regulation 2 Amendment of regulation 19B of the principal Regulations

In regulation 19B of the principal Regulations (payments to directors which are to be disregarded)^f1—

(a)

in paragraph (5)(a), there shall be inserted before the words “in paragraphs (2), (3), (4) and (5)(b)” the words ““company” is deemed to include a building society within the meaning of the Building Societies Act 1986^f2 and” and

(b)

in paragraph (5)(b)(i), for the words “section 534 of the Income and Corporation Taxes Act 1970”^f3 there shall be substituted the words “section 840 of the Income and Corporation Taxes Act 1988”^f4.

Annotations

Footnotes

f1: Regulation 19B was inserted by S.I. 1987/2111.
f2: 1986 c. 53; see sections 5 and 119(1).
f3: 1979 c. 10.
f4: 1988 c. 1.