Section 491 | Scientific research associations

(1)The provisions mentioned in subsection (3) (which confer exemptions) apply in relation to a body which qualifies as a scientific research association for the relevant accounting period as they apply in relation to a charitable company.

(2)But in relation to such a body those provisions have effect as if the whole income of the body were applied to charitable purposes.

(3)The provisions referred to in subsection (1) are—

(a)sections 478 and 479 (profits of charitable trades),

(b)section 483 (profits from fund-raising events),

(c)section 484 (profits from lotteries),

(d)section 485 (property income etc),

(e)section 486 (investment income etc),

(f)section 488 (certain miscellaneous income), and

(g)section 489 (income from estates in administration).

(4)In subsection (1) “the relevant accounting period” means the accounting period for which the exemption in question is to be claimed.