1.—(1) These Regulations may be cited as the Group Relief for Overseas Losses (Modification of the Corporation Tax Acts for Non-resident Insurance Companies) (No. 2) (Amendment) Regulations 2007 and shall come into force on 14th August 2007.
(2) Regulations 3, 4 and 5 have effect in relation to periods of account beginning on or after 1st January 2007.
(3) Regulation 6 has effect in relation to insurance business transfer schemes within the meaning given by section 431(2) of the Income and Corporation Taxes Act 1988(1) taking effect on or after 21st March 2007.
The definition of “insurance business transfer scheme” in section 431(2) was substituted by paragraph 1(1) of Schedule 9 to the Finance Act 2007 (c.11).