SCHEDULES
SCHEDULE 34Policies of life insurance etc: miscellaneous amendments
Part 4Rollover of gain on maturity into new policy
Repeal of section 540(2) of the Taxes Act 1988
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1
Section 540(2) of the Taxes Act 1988 (maturity not a chargeable event if option exercised to re-invest whole proceeds of maturing policy in new policy) shall cease to have effect.
2
This paragraph is subject to paragraph 15.