111Section 560 applies with—
(a)the substitution for subsection (1) of—
“(1)This section applies if assets are transferred as part of, or in connection with, a transfer of the whole or part of the long term business of an insurance company to another company in accordance with a scheme sanctioned by a court under section 49 of the Insurance Companies Act 1982.”; and
(b)the omission of subsection (2),
in relation to transfers sanctioned or authorised before 1st July 1994.