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Trade unions.
[ITA67 s336 and s339(2) and (4); F(MP)A68 s3(4) and Sch PtIII; CTA76 s140 and Sch2 PtI par15; FA80 s11]
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213.—(1) In this section, “provident benefits” includes any payment expressly authorised by the registered rules of the trade union and made to a member during sickness or incapacity from personal injury or while out of work, or to an aged member by means of superannuation, or to a member who has met with an accident, or has lost his or her tools by fire or theft, and includes a payment in discharge or aid of funeral expenses on the death of a member, or the wife of a member, or as provision for the children of a deceased member.
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(2) A registered trade union which is precluded by statute or by its rules from assuring to any person a sum exceeding £2,000 by means of gross sum or £750 a year by means of annuity shall be entitled to exemption from income tax under Schedules C, D and F in respect of its interest and dividends which are applicable and applied solely for the purpose of provident benefits.
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