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22U.K.For section 130 (traders receiving distributions etc) substitute—
“InsurersU.K.
130Insurers receiving distributions etc
(1)This section applies for the purpose of calculating the trading profits of—
(a)insurance business other than life assurance business, or
(b)any category of such business.
(2)A receipt that is exempt for the purposes of Part 9A (company distributions) is not brought into account in calculating the profits of the trade.”