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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2014 - onwards
    Version 1 of 1    

267AA. Taxation of dividends on regular share accounts.

A credit union shall treat -

(a) the value of shares held in a regular share account at any time, as an amount of a relevant deposit held by it at that time, and

(b) the value of any dividend paid on those shares at any time, as an amount of relevant interest paid at that time in respect of such relevant deposit and the provisions of Chapter 4 of this Part shall apply to such relevant interest treated as paid by the credit union as they apply to relevant interest paid by a relevant deposit taker.

Comparing proposed amendment...