Interpretation
2.—(1) In these Regulations unless the context otherwise requires–
“building society” means a building society within the meaning of the Building Societies Act 1986(), or the Irish Building Societies Act 1989();
“collective investment scheme” has the meaning given by section 75 of the Financial Services Act 1986(), and “interest” in relation to a collective investment scheme means the beneficial entitlement (however described) of a participant (within the meaning of that section);
“company” has the meaning given by section 832(1) and (2) of the Taxes Act;
“insurance company” means an insurance company within the meaning of the Insurance Companies Act 1982();
“internal linked fund” has the meaning given by regulation 3(1) of the Insurance Companies (Accounts and Statements) Regulations 1996();
“market value” shall be construed in accordance with section 272 of the Taxation of Chargeable Gains Act 1992();
“personal portfolio bond” has the meaning given by regulation 4, subject to regulation 3;
“policy holder”, except in regulation 4(1), includes a holder of a life annuity contract;
“recognised stock exchange” has the meaning given by section 841 of the Taxes Act;
“security” has the same meaning as in section 132(3)(b) of the Taxation of Chargeable Gains Act 1992;
“share” includes stock;
“the Taxes Act” means the Income and Corporation Taxes Act 1988;
“unit trust scheme” has the meaning given by subsection (6) of section 468 of the Taxes Act();
“warrant” has the same meaning as in paragraphs 4 and 28(4) of Schedule 1 to the Financial Services Act 1986;
“year” in relation to a personal portfolio bond means a year as defined in section 546(4) of the Taxes Act, and “the final year” has the meaning given by that section.
(2) In these Regulations references to the premium paid, or the amount of the premium paid, include–
(a)references to lump sum, or any other, consideration,
(b)where more than one amount is payable by way of premium in respect of the policy or contract, references to the aggregate of the premiums paid, and
(c)references to the market value at the date of transfer of any property other than cash transferred to the insurance company in satisfaction of any premium.
(3) In these Regulations references to a section, without more, are to that section of the Taxes Act.