Finance Act 2001 (c. 9)

SCHEDULES

SCHEDULE 28 U.K. LIFE POLICIES, LIFE ANNUITIES AND CAPITAL REDEMPTION POLICIES

Part 1 U.K. ASSIGNMENT OR SURRENDER OF PART OF THE RIGHTS

Non-resident policies and off-shore capital redemption policies U.K.

17 (1) Section 553 is amended as follows.

(2) In subsection (3) (reduction for non-residence of the amount that would otherwise be treated by virtue of section 541 as a gain arising) after “section 541” insert “ or 546C(7)(b) ”.

F1 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In subsection (10) (interpretation) in the definition of “chargeable event” after “545” insert “ or 546C(7)(a) ”.

Textual Amendments

F1 Sch. 28 para. 17(3) repealed (6.4.2005) by Income Tax (Trading and Other Income) Act 2005 (c. 5), s. 883(1), Sch. 3 (with Sch. 2)