57Duties of insurers in relation to life policies etc
(1)In section 552 of the Taxes Act 1988 (duties of insurers of life policies etc.), the following subsection shall be inserted after subsection (2) in relation to times on or after the day on which this Act is passed—
“(2A)Where the obligations under any policy or contract of the body that issued, entered into or effected it (“the original insurer”) are at any time the obligations of another body (“the transferee”) to whom there has been a transfer of the whole or any part of a business previously carried on by the original insurer, this section shall have effect in relation to that time, except where the chargeable event—
(a)happened before the transfer, and
(b)in the case of a death or assignment, is an event of which the notification mentioned in subsection (1) above was given before the transfer,
as if the policy or contract had been issued, entered into or effected by the transferee.”
(2)In that section, the following subsections shall be inserted after subsection (4)—
“(4A)The Board may by regulations—
(a)make provision as to the form which is to be taken by certificates under this section (including provision enabling such a certificate to be delivered otherwise than in the form of a document); and
(b)make such provision as they think fit for securing that they are able to ascertain whether there has been or is likely to be any contravention of the requirements of this section and to verify any such certificate.
(4B)Regulations by virtue of subsection (4A)(b) above may include, in particular, provision requiring persons to whom premiums under any policy are or have at any time been payable to supply information to the Board and to make available books, documents and other records for inspection on behalf of the Board.
(4C)Regulations under subsection (4A) above may—
(a)make different provision for different cases; and
(b)contain such supplementary, incidental, consequential and transitional provision as appears to the Board to be appropriate.”
(3)In the second column of the Table in section 98 of the Management Act (penalties in respect of certain information provisions), for the entry relating to section 552 of the Taxes Act 1988 there shall be substituted the following entries— “section 552(1) to (4);regulations under section 552(4A);