The Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2011

• Citation: S.I. 2011/37
• Sections: 3

Section 1 Citation, commencement and effect

(1) These Regulations may be cited as the Mutual Societies (Transfers of Business) (Tax) (Amendment) Regulations 2011 and shall come into force on 2nd February 2011.

(2) These Regulations shall have effect in relation to any relevant transfer which takes place on or after 2nd February 2011.

Section 2 Interpretation

In these Regulations “relevant transfer” has the same meaning as in the Mutual Societies (Transfers of Business) (Tax) Regulations 2009 .

Section 3 Amendment of Regulation 17 of the Mutual Societies (Transfers of Business) (Tax) Regulations 2009

(1) The Mutual Societies (Transfers of Business) (Tax) Regulations 2009 are amended as follows.

(2) In regulation 17 (transfer of an asset – taxation of chargeable gains – company ceasing to be a member of group) omit “as a consequence of the relevant transfer”.