Finance Act, 1963


Industrial and Provident Societies: Income Tax and Corporation Profits Tax.

Interpretation (Part VII).

67.—In this Part of this Act, save where the context otherwise requires—

“capital allowance” means any allowance, other than an allowance falling to be made in computing profits or gains, under Rule 6 of the Rules applicable to Cases I and II of Schedule D, section 5 or section 6 of the Finance Act, 1946 , Part V of the Finance Act, 1956 , Part IV of the Finance (Miscellaneous Provisions) Act, 1956 , Part V of the Finance Act, 1957 , or Part V or section 74 of the Finance Act, 1959 ;

“loan interest”, in relation to a society, means any interest payable by the society in respect of any mortgage, loan, loan stock, or deposit;

“share interest”, in relation to a society, means any interest, dividend, bonus, or other sum payable to a shareholder of the society by reference to the amount of his holding in the share capital of the society;

“society” means a society registered under the Industrial and Provident Societies Acts, 1893 to 1936;

and references to the payment of share interest or loan interest include references to the crediting of such interest.