46E+W+SThe Taxation of Chargeable Gains Act 1992 is amended as follows.
47(1)Section 140E (merger leaving assets within UK tax charge) is amended as follows.E+W+S
(2)In subsection (1)(b) for “society registered under the Industrial and Provident Societies Act 1965” substitute “ registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 [F1or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969] ”.
(3)In subsection (9)(a) for “society registered under the Industrial and Provident Societies Act 1965” substitute “ registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 [F2, a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969] ”.
Textual Amendments
F1Words in Sch. 4 para. 47(2) inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 3(a), 15
F2Words in Sch. 4 para. 47(3) inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 3(b), 15
48E+W+SIn section 140F(1)(b) (merger: assets outside UK tax charge) for “society registered under the Industrial and Provident Societies Act 1965” substitute “ registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 [F3or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969] ”.
Textual Amendments
F3Words in Sch. 4 para. 48 inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 4, 15
49E+W+SIn section 140G(1)(b) (treatment of securities issued on merger) for “society registered under the Industrial and Provident Societies Act 1965” substitute “ registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 [F4or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969] ”.
Textual Amendments
F4Words in Sch. 4 para. 49 inserted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 5, 15
50(1)Section 170 (interpretation of sections 171 to 181) is amended as follows.E+W+S
(2)In subsection (2)(c) for “registered industrial and provident society” substitute “ registered society [F5(see section 1119 of that Act)] ”.
(3)In subsection (9)(c) for “registered industrial and provident society” substitute “ registered society [F6(see section 1119 of CTA 2010)] ”.
Textual Amendments
F5Words in Sch. 4 para. 50(2) substituted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 6(a),15
F6Words in Sch. 4 para. 50(3) substituted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 6(b),15
51E+W+SIn the heading before section 217D for “Industrial and provident societies” substitute “ Registered societies ”.
52E+W+SIn section 217D(3) (disposal of assets on union, amalgamation or transfer of engagements) for paragraph (a) substitute—
“(a)a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014 or a society registered or treated as registered under the Industrial and Provident Societies Act (Northern Ireland) 1969,”.
53E+W+SIn Schedule 7AC (exemptions for disposals by companies with substantial shareholdings) in paragraph 26(4) for “registered industrial and provident society” substitute “ registered society [F7(see section 1119 of that Act)] ”.
Textual Amendments
F7Words in Sch. 4 para. 53 substituted (1.8.2014) by Finance Act 2014 (c. 26), Sch. 39 paras. 715