32(1)  Subject to paragraph (1A), a payment is a qualifying contribution if–

(a)it is made by a registered person to an approved body;

(b)it is made subject to a condition that the body shall spend the sum paid or any income derived from it or both only in the course or furtherance of its approved objects;

(c)the requirements of paragraphs (2) to (2B) below have been complied with in relation to that payment; and

(d)it is not repaid to him, or a contributing third party, in the same accounting period as that in which it was made.

32(1A)  A payment is not a qualifying contribution if it is an investment contribution.

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