Income Tax Act, 1967.

PART XI

Industrial and Provident Societies

Interpretation.

218.—In this Part, save where the context otherwise requires—

“capital allowance” means any allowance, other than an allowance falling to be made in computing profits or gains, under section 241, Part XIV, XV, XVI or XVII;

“loan interest”, in relation to a society, means any interest payable by the society in respect of any mortgage, loan, loan stock, or deposit;

“share interest”, in relation to a society, means any interest, dividend, bonus, or other sum payable to a shareholder of the society by reference to the amount of his holding in the share capital of the society;

“society” means a society registered under the Industrial and Provident Societies Acts, 1893 to 1936;

and references to the payment of share interest or loan interest include references to the crediting of such interest.