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Application of s. 22 of the Finance Act, 1915, to interest on advances by members of stock exchages and discount houses.
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15. Section twenty-two of the Finance Act, 1915 (which provides for the repayment in certain cases of income tax on interest paid to banks), shall, subject as hereinafter mentioned, apply to interest (not being yearly interest) payable in the United Kingdom on an advance from a person who in the opinion of the Commissioners of Inland Revenue is bonâ fide carrying on business as a member of a stock exchange in the United Kingdom or from any person who in the opinion of the said Commissioners is bonâ fide carrying on the business of a discount house in the United Kingdom, as it applies to interest payable on an advance from a bank:
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