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SCHEDULES

SCHEDULE 17Insurance companies etc

Structural assets

8(1)In section 431(2) of ICTA (interpretative provisions relating to insurance companies), in the definition of “free assets amount”, after “long-term business” insert “, other than any structural assets (within the meaning of section 83XA of the Finance Act 1989),”.

(2)The amendment made by sub-paragraph (1) has effect for periods of account beginning on or after 1 January 2007.