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Part IVU.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter VU.K. Lloyd’s Underwriters: Corporations etc.

Modifications etc. (not altering text)

C1Pt. IV Chapter V (ss. 219-230) modified (1.12.1997) by S.I. 1997/2681, reg. 3(2)(a)

C2Pt. IV Chapter V (ss. 219-230) applied (1.5.1995) by 1995 c. 4, s. 129(4)(6)

Pt. IV Chapter V (ss. 219-230) applied (1.5.1995) by 1995 c. 4, s. 127(16)(a)(19)


227 Cessation: final underwriting year.U.K.

(1)This section applies where a corporate member ceases to carry on its underwriting business, whether by reason of being wound up or otherwise.

(2)Subject to the provisions of any regulations made by the Board—

(a)the member’s final underwriting year shall be that in which its deposit at Lloyd’s is paid over to it or its liquidator, and

(b)the member’s underwriting business shall be treated as continuing until the end of that year.

Modifications etc. (not altering text)

C3S. 227 excluded (1.12.1997) by S.I. 1997/2681, reg. 4(2)