12F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)In section 434(3A) of the Taxes Act 1988 (franked investment income etc), for “The policy holders' share of the franked investment income from investments held in connection with a company's” substitute “ So much of the policy holders' share of the franked investment income from investments of a company’s long-term insurance fund as is referable to its ”.
(3)In section 441(1) and (2) of the Taxes Act 1988 (overseas life assurance business), omit “and section 441A”.
(4)In section 89(2)(b) of the Finance Act 1989 (c. 26) (policy holders' share of profits), for “franked investment income arising in the period which is” substitute “ distributions received from companies resident in the United Kingdom in the period which are ”.
(5)Apart from sub-paragraph (3), this paragraph has effect in relation to distributions on or after 9th April 2003.
Textual Amendments
F1Sch. 33 para. 12(1) repealed (with effect in accordance with s. 42 of the amending Act) by Finance Act 2004 (c. 12), Sch. 42 Pt. 2(3)