Section 53.
1(1)In the enactments specified in sub-paragraph (2) below, for the words “section 49 of the M1Insurance Companies Act 1982”, in each place where they occur, there shall be substituted “ Part I of Schedule 2C to the Insurance Companies Act 1982 ”.U.K.
(2)The enactments mentioned in sub-paragraph (1) above are—
F1(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F1(c). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(d)sections F2. . ., F3... of the M2Taxation of Chargeable Gains Act 1992 (transfers of business).
F4(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Sch. 9 para. 1(2)(a)-(c) repealed (1.12.2001 with effect as mentioned in Sch. Note 1 of the amending Act) by S.I. 2001/3629, art. 109, Sch. Note
F2Words in Sch. 9 para. 1(2)(d) repealed (1.12.2001 with effect as mentioned in Note 1 of the amending Act) by S.I. 2001/3629, art. 109, Sch. Note
F3Words in Sch. 9 para. 1(2)(d) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(10)
F4Sch. 9 para. 1(3) repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(7)
Marginal Citations
F52U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F5Sch. 9 para. 2 repealed (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), reg. 1, Sch. Pt. 1
F63U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
4U.K.In subsection (5) of section 213 of the M3Taxation of Chargeable Gains Act 1992 (spreading of gains and losses under section 212 where there is a transfer of long term business), at the beginning there shall be inserted “Subject to subsections (5A) to (7) below”; and after that subsection there shall be inserted the following subsection—
“(5A)Subsection (5) above shall not apply where the transferee is resident outside the United Kingdom unless the business to which the transfer relates is carried on by the transferee, for a period beginning with the time when the transfer takes effect, through a branch or agency in the United Kingdom.”
Marginal Citations
F75U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F7Sch. 9 para. 5 repealed (19.7.2007) by Finance Act 2007 (c. 11), Sch. 27 Pt. 2(10)
F86U.K.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F8Sch. 9 para. 6 repealed (with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), reg. 1, Sch. Pt. 1