http://www.legislation.gov.uk/ukpga/2006/25/section/87Finance Act 2006An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with finance.texttext/xmlenStatute Law Database2026-05-05Expert Participation2026-04-01 Part 3 Chapter 9871Schedule 15 to ICTA (provisions for determining whether an insurance policy is a “qualifying policy” for the purposes of the Tax Acts) is amended as follows.2In paragraph 18 (variations), in sub-paragraph (3) (paragraph does not apply by reason of certain variations), at the end insert, or dany variation which alters the method for calculating the benefits secured by the policy..3In paragraph 22 (certificates from body issuing policy), in sub-paragraph (3) (sub-paragraph (2) does not apply by reason of certain variations), at the end insert; or cany variation which alters the method for calculating the benefits secured by the policy..4In the case of a variation effected as part of, or in connection with, an insurance business transfer scheme, the amendments made by this section are deemed always to have had effect.5In any other case, the amendments made by this section have effect in relation to variations effected on or after 7th October 2005.6In this section an “insurance business transfer scheme” means—aa scheme falling within section 105 of the Financial Services and Markets Act 2000 (c. 8),ba scheme sanctioned by a court under Part 1 of Schedule 2C to the Insurance Companies Act 1982 (c. 50), orca scheme sanctioned by a court under section 49 of that Act or under any earlier enactment corresponding to that section,and for the purposes of this subsection any reference to an enactment is a reference to the enactment as it had effect from time to time.