(iii) Exceptional [F1risk of death or disability]U.K.
Textual Amendments
F1Words in Sch. 15 para. 12 heading substituted (retrospectively with effect in accordance with s. 172(6) of the amending Act) by Finance Act 2003 (c. 14), s. 172(2)
12U.K.M1 For the purpose of determining whether any policy is a qualifying policy, there shall be disregarded—
(a)so much of any premium thereunder as is charged on the grounds that an exceptional risk of death [F2or disability] is involved; and
(b)any provision under which, on those grounds, any sum may become chargeable as a debt against the capital sum guaranteed by the policy on death [F2or disability].
Textual Amendments
F2Words in Sch. 15 para. 12 inserted (retrospectively with effect in accordance with s. 172(6) of the amending Act) by Finance Act 2003 (c. 14), s. 172(1)
Marginal Citations
M1Source—1970 Sch.1 6, 7