Amendment of regulation 6
4.—(1) Regulation 6 (modifications of section 431(2) of the Income and Corporation Taxes Act 1988)(1) is amended as follows.
(2) In paragraph (2)(b), for paragraph (i) substitute—
“(i)for “paragraph 5(d) of Schedule 3 to that Act” substitute “sub-paragraph (d) or (da) of paragraph 5 of Schedule 3 to that Act(2) (an “EEA firm”);”.
(3) In paragraph (5), in the inserted definition of “long-term insurance fund”—
(a)in paragraph (a), for “life assurance” substitute “life-assurance”,
(b)after paragraph (a) insert—
“(aa)where the technical account included in the IAD accounts for non-life-insurance business of the company is used for all business, such part of that account as relates to the long-term business of the company; or”,
(c)in paragraph (b), omit “as relates to” (in the first place), and
(d)for “that technical account or income statement”, substitute “either that technical account or that part of the technical account or that part of the income statement”.
Regulation 6 was amended by S.I. 2007/2146.
Sub-paragraph (da) was inserted in paragraph 5 of Schedule 3 to the Financial Services and Markets Act 2000 (c. 8) by S.I. 2007/3253.