
1 

(1) These Regulations may be cited as the Friendly Societies (Modification of the Corporation Tax Acts) (Amendment No. 2) Regulations 1997 and shall come into force on 31st December 1997.
(2) Regulations 3 and 4 shall have effect for accounting periods of friendly societies beginning after 5th March 1997.
2 
In these Regulations “the principal Regulations” means the Friendly Societies (Modification of the Corporation Tax Acts) Regulations 1997 and “regulation” means a regulation of the principal Regulations.
3 
Regulation 16 shall be omitted.
4 
In regulation 21, paragraph (2) shall be omitted.
5 
After regulation 53 there shall be inserted the following regulation—“
53A 

(1) Paragraph (2) prescribes a modification of paragraph 18 of Schedule 12 to the Finance Act 1997.
(2) For the words from “which” to the end there shall be substituted the words “made up for the purposes of an investigation into the financial condition of a friendly society under section 46 or 47 of the Friendly Societies Act 1992”.
(3) This regulation shall have effect in relation to periods for which accounts of friendly societies are made up ending on or after 26th November 1996.”
Graham Allen
Jim Dowd
Two of the Lords Commissioners of Her Majesty’s Treasury
5th December 1997