Deposit back arrangementsU.K.
9F1(1). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.
(2)In section 431(2) of ICTA (interpretative provisions relating to insurance companies), after the definitions of “contract of insurance” and “contract of long-term insurance” insert—
““deposit back arrangements” means arrangements by which an amount is deposited by the reinsurer under a contract of reinsurance with the cedant;”;
and, in the definition of “liabilities”, omit the words following paragraph (b).
(3)The amendments made by this paragraph have effect in relation to periods of account beginning on or after 1 January 2008 and ending on or after 12 March 2008.
Textual Amendments
F1Sch. 17 para. 9(1) repealed (with effect in accordance with s. 1329(1) of the amending Act) by Corporation Tax Act 2009 (c. 4), s. 1329(1), Sch. 3 Pt. 1 (with Sch. 2 Pts. 1, 2)