Part 6Relationships treated as loan relationships etc
Chapter 11Investment life insurance contracts
Introduction
560Introduction to Chapter
1
This Chapter makes provision about investment life insurance contracts to which relevant companies are party.
2
See, in particular—
a
sections 562 to 565 (which make provision about treating the contracts as creditor relationships in relation to those companies for the purposes of Part 5), and
b
sections 566 to 569 (which make provision for cases where the relevant company was a party to the contract before the beginning of the company's first accounting period beginning on or after 1 April 2008).
3
In this Chapter “relevant company” means a company which is not a life insurance company.
4
In subsection (3) “life insurance company” means—
a
an insurance company (as defined in section 431(2) of ICTA) which carries on long-term business (as defined in that section), or
b
a friendly society which would be such an insurance company but for the words “(other than a friendly society)” in the definition of “insurance company” in that section.
5
For the meaning of “investment life insurance contract”, see section 561.