SCHEDULES
SCHEDULE 10

Insurance companies: miscellaneous

Tidying up of Chapter 2 of Part 4 of FA 1996
6
1
Chapter 2 of Part 4 of FA 1996 (loan relationships) is amended as follows.
2
In section 103(3)
(loan relationships: interpretation), omit “or” at the end of paragraph (a) and after paragraph (b) insert
or
c
any basic life assurance and general annuity business,
.
3
In sub-paragraph (1) of paragraph 1A of Schedule 9 (life assurance policies), for the words after “relating to” substitute “ liabilities of an insurance company within paragraph (a) of the definition of “liabilities” in section 431(2) of the Taxes Act 1988. ”; and the italic heading before that paragraph accordingly becomes “ Insurance company liabilities ”.
4
In Schedule 11, omit paragraph 1(1A) to (1C).