Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 16 U.K. Part 2: minor and consequential amendments

PART 3 U.K. Amendments of other Acts

Corporation Tax Act 2009 U.K.

150 (1) Section 386 (overview of Chapter 10 of Part 5 (insurance companies)) is amended as follows. U.K.

(2) In subsection (2)—

(a) in paragraph (a), after “apply” insert “ for the purposes of the I - E rules ” and at the end insert “ and ”, and

(b) omit paragraph (c) (together with the “and” before it).

(3) In subsection (3)—

(a) in paragraph (a), omit “or of BLAGAB”,

(b) in paragraph (a), after “trade)” insert “ and section 88 of FA 2012 (equivalent rule for activities carried on in the course of BLAGAB) ”, and

(c) in paragraph (f), for “as expenses of insurance companies at Step 1 of section 76(7) of ICTA” substitute “ as ordinary BLAGAB management expenses ”.