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Income Tax (Exempt Bodies) (Guernsey) (Amendment) (No. 2) Ordinance, 2009

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The Income Tax (Exempt Bodies) (Guernsey) (Amendment) (No. 2) Ordinance, 2009

 

THE STATES, in pursuance of their Resolution of the 2nd October, 2009[a], and in exercise of the powers conferred on them by sections 40A and 40B of the Income Tax (Guernsey) Law, 1975, as amended[b], and all other powers enabling them in that behalf, hereby order:-

 

Amendment of 1989 Ordinance.

1.      The Income Tax (Exempt Bodies) (Guernsey) Ordinance, 1989, as amended[c] ("the Ordinance"), is further amended as follows.

 

2.      In schedule 1 to the Ordinance -

 

(a)      in paragraph (ii) of Category A after "such a unit trust" insert ", but only to the extent that the company does not have income taxable under the provisions of the Law at the company intermediate rate or company higher rate",

 

(b)      in paragraph (ii) of Categories B and C after "such a company" insert ", but only to the extent that the subsidiary company does not have income taxable under the provisions of the Law at the company intermediate rate or company higher rate".

 

3.      In Schedule 2 to the Ordinance -

 

(a)      in paragraph 2 of Categories A and C, and

 

(b)      in paragraph 3 of Category B,

 

after "has been granted under this Ordinance" insert "or shares in a Guernsey company".

 

Citation.

4.      This Ordinance may be cited as the Income Tax (Exempt Bodies) (Guernsey) (Amendment) (No. 2) Ordinance, 2009.

 

Commencement.

5.      This Ordinance shall come into force on the 25th November, 2009.


[a]

Article VII of Billet d'√Čtat No. XXIV of 2009.

[b]

Ordres en Conseil Vol. XXV, p. 124; sections 40A and 40B were inserted by Vol. XXVIII, p. 409 and amended by Vol. XXXI, p. 473 and No. VI of 1992.

[c]

Recueil d'Ordonnances Tome XXV, p. 106; Tome XXVI, p. 41; No. I of 1995; No. VI of 1996; (No. I of 1995 never came into force and was repealed by No. VI of 1996); No. XXXIX of 1997; No. XXXIII of 2003; No. XXXVII of 2006; the Administrator of Income Tax (Guernsey) (Transfer of Functions) Ordinance, 2009; the Income Tax (Exempt Bodies) (Guernsey) (Amendment) Ordinance, 2009; and (with effect from the 1st January, 2008) the Income Tax (Zero 10) (Guernsey) Law, 2007.