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The Life Assurance (Apportionment of Receipts of Participating Funds) (Applicable Percentage) (Amendment) Order 1995
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- 1995 No. 1211
- Explanatory Note
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Explanatory Note
(This note is not part of the Order)
This Order amends article 5 of the Life Assurance (Apportionment of Receipts of Participating Funds) (Applicable Percentage) Order 1990 (S.I. 1990/1541). In addition to amending a statutory reference following legislative changes made by the Finance Act 1995, the Order provides for the calculation of the net investment yield specified in article 5 to be made by reference to “linked assets” within the meaning of section 432ZA of the Income and Corporation Taxes Act 1988 (inserted by paragraph 11(2) of Schedule 8 to the Finance Act 1995) and not by reference to assets linked solely to a particular category of business.
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