Finance Act, 1985

Exemption of certain income of Housing Finance Agency, p.l.c.

24.—Notwithstanding any provision of the Corporation Tax Acts, income—

(a) arising to the Housing Finance Agency, p.l.c. in any accounting period ending after the 8th day of February, 1982, from the business of making loans and advances under section 5 of the Housing Finance Agency Act, 1981 , and

(b) which, but for this section, would have been chargeable to corporation tax under Case I of Schedule D,

shall be exempt from corporation tax.