124 Mutual societies: tax consequences of transfers of business etc
Finance Act 2009 (2009 c 10) | Legislation

124  Mutual societies: tax consequences of transfers of business etc

(1)     The Treasury may by regulations make provision for and in connection with—

(a)     the tax consequences of a transfer of all or part of the business or engagements of a mutual society,

(b)     the tax consequences of an amalgamation of mutual societies, and

(c)     the tax consequences of the conversion of a mutual society into a company.

(2)     “Mutual society” means—

(a)     a building society incorporated (or deemed to be incorporated) under the Building Societies Act 1986,

(b)     a friendly society within the meaning of the Friendly Societies Act 1992, or

[(c)     a registered society within the meaning of the Co-operative and Community Benefit Societies

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