SCHEDULES
SCHEDULE 18Part 3: consequential amendments
13Income and Corporation Taxes Act 1988
1
Schedule 15 (qualifying policies) is amended as follows.
2
In paragraph 3—
a
in sub-paragraphs (1) and (4)(c), for “tax exempt life or endowment business” substitute “exempt BLAGAB or eligible PHI business”,
b
in sub-paragraph (8)(b)(i), for “a new society” substitute “a society other than an old society”, and
c
in sub-paragraph (8)(b)(ii), for “a society other than a new society” substitute “an old society”.
3
In paragraph 4(3)(b)(ii), for “a new society” substitute “a society other than an old society”.
4
Omit paragraph 5.
5
In paragraph 6—
a
in sub-paragraph (1)—
i
omit “(as defined in section 466)” in both places, and
ii
for “tax exempt life or endowment business” substitute “exempt BLAGAB or eligible PHI business”, and
b
in sub-paragraph (2), for “section 464” substitute “section 160 of the Finance Act 2012”.
6
After paragraph 6 insert—
6A
Any expression—
a
which is used in any provision made by any of paragraphs 3 to 6, and
b
which is used in Part 3 of the Finance Act 2012,
has the same meaning in that provision as it has in that Part.