Finance Act 1991

United Kingdom branches of overseas life assurance companiesU.K.

7(1)In section 446 of that Act (computation under section 436 of profits arising to an overseas life assurance company)—U.K.

F1(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b)subsections (2) and (3),

shall cease to have effect.

F1(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3)Subsection (3) of that section (proportion of profits arising from general annuity business for purposes of section 446) shall cease to have effect.

F1(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F1(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F1Sch. 7 para. 7(1)(a)(2)(4)(5) repealed (27.7.1993 with application as mentioned in s. 103(3)(4) of the amending Act) by 1993 c. 34, ss. 103(3)(4), 213, Sch. 23 Pt.III.