Corporation Tax Act 2010 (c. 4)E+W+S
155E+W+SThe Corporation Tax Act 2010 is amended as follows.
156E+W+SFor “registered industrial and provident society” (in each place where those words occur except in sections 90 and 1119 and Schedule 4) substitute “ registered society ”.
157E+W+SIn section 47 (registered industrial and provident societies) for the heading substitute “ Registered societies ”.
158(1)Section 90(1) (interpretation of Chapter 5 of Part 4) is amended as follows.E+W+S
(2)In the definition of “excluded company” for “registered industrial and provident society” substitute “ registered society ”.
(3)For the definition of “registered industrial and provident society” substitute—
““registered society” means—
(a)a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014, F1...
(b)a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969, [F2or
(c) an SCE formed in accordance with Council Regulation ( EC ) No 1435/2003 on the Statute for a European Cooperative Society, ”].
Textual Amendments
F1Word in Sch. 4 para. 158(3) omitted (1.8.2014) by virtue of Finance Act 2014 (c. 26), Sch. 39 paras. 12(a),15
F2Words in Sch. 4 para. 158(3) inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 12(b),15
159E+W+SIn section 151(2) (meaning of 75% subsidiary) for “registered industrial or provident society” substitute “ registered society ”.
160E+W+SIn section 645(3) (tests to be satisfied by the association) for the words from “a society” to the end substitute “—
(a)a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014, or
(b)a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969.”
161E+W+SIn section 653(3)(a) (approval of self-build societies) for “the Industrial and Provident Societies Act 1965” substitute “ the Co-operative and Community Benefit Societies Act 2014 ”.
162E+W+SIn section 654(1) (delegation of powers to Regulator of Social Housing) for “the Industrial and Provident Societies Act 1965” substitute “ the Co-operative and Community Benefit Societies Act 2014 ”.
163E+W+SIn the table in section 1001 (provisions related to paragraphs A to H in section 1000(1)) for “industrial and provident society” substitute “ registered society ”.
164E+W+SIn section 1029(1) (overview of Chapter 3 of Part 23)—
(a)in paragraph (g) for “industrial and provident societies” substitute “ registered societies ”;
(b)in paragraph (h) for “industrial and provident society” substitute “ registered society ”.
165E+W+SIn the heading before section 1055 for “Industrial and provident society” substitute “ Registered society ”.
166E+W+SIn section 1055 (industrial and provident societies: interest and share dividends) in the heading for “Industrial and provident societies” substitute “ Registered societies ”.
167E+W+SIn section 1056(1)(b) (dividend or bonus relating to transactions) for “an industrial and provident society” substitute “ a registered society ”.
168(1)Section 1119 (definitions) is amended as follows.E+W+S
(2)Omit the definition of “registered industrial and provident society”.
(3)After the definition of “registered pension scheme” insert—
““registered society” means—
(a)a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014,
(b)a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969,
[F3(c) a society registered as a credit union under the Credit Unions (Northern Ireland) Order 1985 ( S.I. 1985/1205 (N.I. 12)), or
(d) an SCE formed in accordance with Council Regulation ( EC ) No 1435/2003 on the Statute for a European Cooperative Society, ”].
Textual Amendments
F3Words in Sch. 4 para. 168(3) substituted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 13,15
169E+W+SIn section 1120(3)(c) (meaning of “bank”) for “the Industrial and Provident Societies Act 1965” substitute “ the Co-operative and Community Benefit Societies Act 2014 ”.
170E+W+SIn Schedule 4 (index of defined expressions)—
(a)omit the entries for “registered industrial and provident society”;
(b)after the entry for “registered pension scheme” insert—
| “registered society (except in Chapter 5 of Part 4) | section 1119 |
| registered society (in Chapter 5 of Part 4) | section 90(1)”. |