SCHEDULES

[F1 SCHEDULE 3A U.K.Excluded Trusts

Textual Amendments

F1 Sch. 3A inserted (6.10.2020) by The Money Laundering and Terrorist Financing (Amendment) (EU Exit) Regulations 2020 (S.I. 2020/991), regs. 1(2), 11

Trusts of insurance policies U.K.

[F2 4.— (1) A trust of a life policy paying out only—

(a) on the death, terminal or critical illness, or permanent or temporary disablement of the person assured; or

(b) to meet the cost of healthcare services provided to the person assured.

(2) A trust of an insurance policy paying out only—

(a) on the temporary disablement of the person assured, where that policy was applied for at the same time as a policy under sub-paragraph (1); or

(b) to meet the cost of healthcare services provided to the person assured.

(3) A trust of the benefits payable on the death of the person assured under a retirement policy.]]

Textual Amendments

F2 Sch. 3A para. 4 substituted (9.3.2022) by The Money Laundering and Terrorist Financing (Amendment) Regulations 2022 (S.I. 2022/137), regs. 1, 5(a)