Finance Act, 1998
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Credit unions. |
58.—(1) The Principal Act is hereby amended by the insertion, after section 219, of the following section: | |
“Income of credit unions. | ||
219A.—(1) In this section ‘the Act’ means the Credit Union Act, 1997 . | ||
(2) Income arising to a credit union which is— | ||
(a) registered as such under the Act, or | ||
(b) deemed to be so registered by virtue of section 5(3) of the Act, | ||
shall, with effect from the date of the registration or the deemed registration, as the case may be, of the credit union under the Act, be exempt from corporation tax.”. | ||
(2) Section 212 of the Principal Act is hereby repealed. |