Related Commentary  

693(1)  No liability to income tax arises in respect of income from authorised Ulster Savings Certificates if condition A, B or C is met.

693(2)  Condition A is that –

(a)the holder purchased them, and

(b)at the time of the purchase the holder was resident and ordinarily resident in Northern Ireland.

693(3)  Condition B is that the holder is so resident and ordinarily resident when they are repaid.

693(4)  Condition C is that–

(a)they are repaid after the holder's death, and

(b)at the time of the purchase the holder was so resident and ordinarily resident.

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