38(1)Section 444AK (mutual surplus: Case VI categories of life assurance business) is amended as follows.U.K.
(2)In subsection (1), for paragraph (b) substitute—
“(b)the company carries on gross roll-up business.”
(3)In subsection (3), for “any category of the company's life assurance business chargeable to tax under Case VI of Schedule D” substitute “ the company's gross roll-up business ”.
(4)In subsection (5)(b), for “sections 432C and 432D apply” substitute “ section 432C applies ”.
(5)The heading accordingly becomes “ Mutual surplus: gross roll-up business ”.