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(1) An unregistered friendly society whose income does not exceed £160 €205 shall be entitled to exemption from income tax, and a registered friendly society which is precluded by statute or by its rules from assuring to any person a sum exceeding £1,000 €1,270by means of gross sum, or £52 €70a year by means of annuity, shall be entitled to exemption from income tax under Schedules C, D and F.

(6) A person who makes a false or fraudulent claim for exemption under this section in respect of any interest, annuities, dividends or shares of annuities charged or chargeable under Schedule C shall forfeit the sum of £100 €125.

(1) An unregistered friendly society whose income does not exceed £160 €205 shall be entitled to exemption from income tax, and a registered friendly society which is precluded by statute or by its rules from assuring to any person a sum exceeding £1,000 €1,270by means of gross sum, or £52 €70a year by means of annuity, shall be entitled to exemption from income tax under Schedules C, D and F.

(4) A friendly society aggrieved by a determination of the Revenue Commissioners under this section in relation to the society may appeal the determination to the Appeal Commissioners, in accordance with section 949I, within the period of 30 days after the date of the notice of that determination.