PART 2 AMENDMENTS TO PRIMARY LEGISLATION

The Finance Act 1989 (c. 26)

58 Policy holders' share of profits
1 Amend section 89 (policy holders' share of profits) as follows.
Section 89 was substituted by section 45(3) of the Finance Act 1990.
2 In subsection (6) for “the Insurance Companies Act 1982” substitute “Chapter 9 of the Prudential Sourcebook (Insurers)”.
3 For subsection (7) substitute—

“7 In this section—
“Case I profits” means profits computed in accordance with the provisions of the Taxes Act 1988 applicable to Case I of Schedule D;
“the Prudential Sourcebook (Insurers)” means the Interim Prudential Sourcebook for Insurers made by the Financial Services Authority under the Financial Services and Markets Act 2000.”

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4 This Article has effect in relation to periods of account ending on or after 1st December 2001.