100Assets wholly or partly matched to BLAGAB liabilitiesU.K.
(1)If, immediately before the disposal, the whole of the asset was matched to a BLAGAB liability, the whole of the gain or loss is referable to the company's basic life assurance and general annuity business.
(2)If, immediately before the disposal, a part of the asset was matched to a BLAGAB liability, the appropriate portion of the gain or loss is referable to the company's basic life assurance and general annuity business.
(3)“The appropriate proportion” means the proportion equal to the proportion of the asset matched to the BLAGAB liability.
(4)If, as a result of Chapter 8, there is a disposal of a part of an asset where the part concerned is matched to a BLAGAB liability, the whole of the gain or loss is referable to the company's basic life assurance and general annuity business.
(5)The concept of the whole or a part of an asset being matched to a BLAGAB liability is explained by section 138.