651(1)Amend section 249 of FA 2004 (amendments of ITEPA 2003) as follows.U.K.
(2)In subsection (3), in subsection (4) of the inserted section 393B—
(a)for paragraph (a) substitute—
“(a)an excepted group life policy as defined in section 480 of ITTOIA 2005,”, and
(b)in paragraph (b) for the words from “condition 1” to the end of the paragraph substitute “—
(i)condition A in section 481 of that Act would be met if paragraph (a) in that condition referred to the death, in any circumstances or except in specified circumstances, of that individual (rather than the death in any circumstances of each of the individuals insured under the policy) and if the condition did not include paragraph (b), and
(ii)conditions C and D in that section and conditions A and C in section 482 of that Act are met, or”.
(3)In subsection (8), in the inserted section 395 of ITEPA 2003, for “Case VI of Schedule D” substitute “ subsection (2) of that section ”.