Finance Act, 1922

Profits of charitable and other companies registered without word “limited” exempted from corporation profits tax. S Edw. 7. c. 69.

43. —(1) Corporation profits tax shall not be charged on the profits of an association which is registered under section twenty of the Companies (Consolidation) Act, 1908 , as a company with limited liability without the addition of the word “limited” to its name, so long as it continues so registered, or on the profits of a company which is established solely for the advancement of religion or education and which under its memorandum or articles of association is prohibited from distributing any part of its profits to its members.

(2) This section shall be deemed to have had effect as from the first day of January, nineteen hundred and twenty-two.