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39 1997

TAXES CONSOLIDATION ACT, 1997

CHAPTER 3

Trustee savings banks

Amalgamation of trustee savings banks.

[FA90 s59]

704. —(1) In this Chapter and in Schedule 17 , “trustee savings bank” has the same meaning as in the Trustee Savings Banks Act, 1989 .

(2) Where any assets or liabilities of a trustee savings bank are transferred or deemed to be transferred to another trustee savings bank in accordance with Part IV of the Trustee Savings Banks Act, 1989 , those banks shall be treated for the purposes of the Tax Acts and the Capital Gains Tax Acts as if they were the same person.

Reorganisation of trustee savings banks into companies.

[FA90 s60]

705. Schedule 17 shall apply to the reorganisation in accordance with section 57 of the Trustee Savings Banks Act, 1989 , of—

(a) one or more trustee savings banks into a company, or

(b) a company referred to in subparagraph (i) of subsection (3)(c) of that section into a company referred to in subparagraph (ii) of that subsection.