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

14

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.