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4.—(1) Group 2—Insurance(1) of Part II of Schedule 9 (exemptions) to the Value Added Tax Act 1994 is amended as follows.
(2) In paragraph (a) of item no. 2(2), for “in the Annex to the first life insurance directive” substitute “in Annex 1 to the life assurance consolidation directive”.
(3) For paragraph (b) in note (C1)(3) substitute—
“(b)“life assurance consolidation directive” means Directive 2002/83/EC of the European Parliament and of the Council of 5th November 2002 concerning life assurance.”
Group 2 was substituted by the Finance Act 1997 (c. 16), section 38.
Item No. 2 was substituted by S.I. 2001/3649, article 347(1) and (3).
Note (C1) was inserted by S.I. 2001/3649, article 347(1) and (5).
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