The Life Insurance Qualifying Policies (Statement and Reporting Requirements) Regulations 2013

Amendment to the Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997

This section has no associated Explanatory Memorandum

6.—(1) The Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997(1) are amended as follows.

(2) In regulation 2 (interpretation), in paragraph (3)—

(a)for the words “if, on” substitute—

“if—

(a)on”; and

(b)at the end insert—

“, or

(b)it is a qualifying policy”.

(3) In regulation 3 (general keeping of records)—

(a)at the end of sub-paragraph (b) omit “and”;

(b)at the end of sub-paragraph (c) insert—

“(d)to ascertain whether there has been or is likely to be any contravention of the requirements of the regulations made under section 552ZB(1), and

(e)to verify any information provided to an officer of Revenue and Customs as required by the regulations made under section 552ZB(1)”.

(4) In regulation 9 (inspection of records by officers of the Board) at the end of paragraph 1 after “regulation 8” insert “or required by regulation 3(d) and (e).”.