C1Part 3Trading income

Annotations:
Modifications etc. (not altering text)

Chapter 9Trade profits: other specific trades

F2Banking companies

Annotations:
Amendments (Textual)
F2

Ss. 133A-133N and cross-heading inserted (with effect in accordance with s. 18(2) of the amending Act) by Finance (No. 2) Act 2015 (c. 33), s. 18(1)

133IMeaning of “insurance company”

1

For the purposes of section 133F a person who carries on the activity of effecting or carrying out contracts of insurance is an “insurance company” if—

a

the person has permission under Part 4A of FISMA 2000 to carry on that activity,

F1b

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F3c

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2

In relation to times in the period beginning with 1 December 2001 and ending with 31 March 2013, the reference in subsection (1)(a) to Part 4A of FISMA 2000 is to be read as a reference to Part 4 of that Act

3

In relation to times before 1 December 2001, this section has effect as if the following were substituted for subsection (1)—

1

For the purposes of section 133F a person who carries on the activity of effecting or carrying out contracts of insurance is an “insurance company” if the person is—

a

authorised under section 3 or 4 of the Insurance Companies Act 1982, or

b

an EC company within the meaning of the Insurance Companies Act 1982 which, by virtue of paragraph 1 or 8 of Schedule 2F to that Act, was able to carry on direct insurance business through a branch in the United Kingdom or provide insurance in the United Kingdom.