Finance Act, 1964

Carrying out of voluntary health schemes—deeming not to be trade.

5.—The business of carrying out under section 4 of the Voluntary Health Insurance Act, 1957 , schemes of voluntary health insurance shall, for all the purposes of the Income Tax Acts in relation to the Voluntary Health Insurance Board, be deemed not to be a trade, and accordingly, in particular and without prejudice to the generality of the foregoing, that Board shall be exempt from income tax under Case I of Schedule D in respect of profits or gains arising from that business:

Provided that that Board shall be entitled to relief under section 34 of the Income Tax Act, 1918, as if the foregoing provisions of this section had not been enacted.