534 Exemption for transactions in deposits
Income Tax Act 2007 (2007 c 3) | Legislation

534  Exemption for transactions in deposits

(1)     Profits or gains arising to a charitable trust from the disposal of exempt deposit rights are not taken into account in calculating total income.

(2)     Subsection (1) applies so far as the profits or gains are applied to charitable purposes only.

(3)     For the purposes of this section, the exercise of an exempt deposit right is a disposal

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