Part 5Loan Relationships
Chapter 10Insurance companies
Treatment of deficit on basic life assurance and general annuity business
387Treatment of deficit on basic life assurance and general annuity business: introduction
1
Sections 388 to 391 apply instead of Chapter 16 (non-trading deficits) if a company has a non-trading deficit from its loan relationships for BLAGAB for any accounting period.
2
In those sections “the deficit” and “the deficit period” mean that deficit and that period respectively.