1972 c. 8.

1924 c. 21 (N.I.).

http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enactedFinance Act 1976Excise dutiesCorporation taxIncome taxTaxStamp dutiesKing's Printer of Acts of Parliament2019-09-04SCHEDULESSCHEDULE 4Life Policies, EtcIndustrial assurance policies111

This paragraph applies to—

a

a policy issued in the course of an industrial assurance business as denned in section 1(2) of the Industrial Assurance Act 1923 or the Industrial Assurance Act (Northern Ireland) 1924; and

b

a policy issued by a registered friendly society in the course of tax exempt life or endowment business (as denned in section 337(3)).

2

If a policy to which this paragraph applies was issued before the passing of this Act section 19 shall have effect in relation to it as if subsections (2)(b), (3) and (4) were omitted ; and if a policy to which this paragraph applies was issued after the passing of this Act, paragraph (b) of section 19(2) shall have effect in relation to it as if it permitted the insurance to be on the life of the individual's parent or grandparent or, subject to sub-paragraph (3) below, on the life of the individual's child or grandchild.

3

Relief may be given in respect of premiums under a policy of insurance on the life of an individual's child or grandchild which is issued after the passing of this Act as if paragraph (b) of section 19(3) were omitted, but may be given only if the annual amount of the premiums, together with that of any relevant premiums, does not exceed £52 ; and for this purpose a relevant premium, in relation to an insurance made at any time on the life of an individual's child or grandchild, is any premium under a policy of insurance on the same life, where the insurance is made at the same time or earlier, whether it is made by the individual or any other person.

4

In this paragraph " child " has the same meaning as in section 10 and " grandchild ", " parent" and " grandparent " have corresponding meanings.

12

In paragraph 4(1) of Schedule 1, sub-paragraph (iii) of paragraph (d) shall be omitted, together with the " and " preceding it, and after paragraph (d) there shall be inserted the words " or if the policy was issued before 6th April 1976, or was issued before 6th April 1979 and is in substantially the same form as policies so issued before 6th April 1976. ".

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<portion includedIn="http://www.legislation.gov.uk/id/ukpga/1976/40/schedule/4/enacted">
<meta>
<identification source="#source">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/ukpga/1976/40/schedule/4/enacted"/>
<FRBRuri value="http://www.legislation.gov.uk/id/ukpga/1976/40/schedule/4/enacted"/>
<FRBRdate date="1976-07-29" name="enacted"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/legislature/UnitedKingdomParliament"/>
<FRBRcountry value="GB-UKM"/>
<FRBRnumber value="40"/>
<FRBRname value="1976 c. 40"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/enacted"/>
<FRBRdate date="1976-07-29" name="enacted"/>
<FRBRauthor href="#source"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/enacted/data.akn"/>
<FRBRdate date="2024-11-04Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<classification source="#source">
<keyword value="excise duties" showAs="Excise duties" dictionary="http://www.legislation.gov.uk"/>
<keyword value="corporation tax" showAs="Corporation tax" dictionary="http://www.legislation.gov.uk"/>
<keyword value="income tax" showAs="Income tax" dictionary="http://www.legislation.gov.uk"/>
<keyword value="tax" showAs="Tax" dictionary="http://www.legislation.gov.uk"/>
<keyword value="stamp duties" showAs="Stamp duties" dictionary="http://www.legislation.gov.uk"/>
</classification>
<lifecycle source="#source">
<eventRef date="1976-07-29" type="generation" eId="enacted-date" source="#source"/>
</lifecycle>
<references source="#source">
<TLCOrganization eId="source" href="http://www.legislation.gov.uk/id/publisher/KingsOrQueensPrinterOfActsOfParliament" showAs="King's Printer of Acts of Parliament"/>
</references>
<notes source="#source">
<note class="margin-note" eId="m00172">
<p>
<ref href="http://www.legislation.gov.uk/id/ukpga/1923/8">1972 c. 8</ref>
.
</p>
</note>
<note class="margin-note" eId="m00173">
<p>
<ref href="http://www.legislation.gov.uk/id/apni/1924/21">1924 c. 21 (N.I.)</ref>
.
</p>
</note>
</notes>
<proprietary xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" source="#source">
<dc:identifier>http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted</dc:identifier>
<dc:title>Finance Act 1976</dc:title>
<dc:subject>Excise duties</dc:subject>
<dc:subject>Corporation tax</dc:subject>
<dc:subject>Income tax</dc:subject>
<dc:subject>Tax</dc:subject>
<dc:subject>Stamp duties</dc:subject>
<dc:contributor/>
<dc:creator/>
<dc:rights/>
<dc:publisher>King's Printer of Acts of Parliament</dc:publisher>
<dc:modified>2019-09-04</dc:modified>
<atom:link rel="self" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/ukpga/1976/40/resources" title="More Resources"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/ukpga/1976/40/enacted" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/ukpga/1976/40/introduction/enacted" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/ukpga/1976/40/body/enacted" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/ukpga/1976/40/schedules/enacted" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/industrial-assurance-policies/enacted/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/ukpga/1976/40/contents/enacted" title="Table of Contents"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/enacted" title="Schedule 4"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/husband-and-wife/enacted" title="Crossheading; Schedule 4 Crossheading; Husband and wife"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/husband-and-wife/enacted" title="Crossheading; Schedule 4 Crossheading; Husband and wife"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/premiums-payable-to-friendly-societies-and-industrial-assurance-companies/enacted" title="Crossheading; Schedule 4 Crossheading; Premiums payable to friendly societies and industrial assurance companies"/>
<atom:link rel="nextInForce" href="http://www.legislation.gov.uk/ukpga/1976/40/schedule/4/crossheading/premiums-payable-to-friendly-societies-and-industrial-assurance-companies/enacted" title="Crossheading; Schedule 4 Crossheading; Premiums payable to friendly societies and industrial assurance companies"/>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="final"/>
</ukm:DocumentClassification>
<ukm:Year Value="1976"/>
<ukm:Number Value="40"/>
<ukm:EnactmentDate Date="1976-07-29"/>
</ukm:PrimaryMetadata>
<ukm:Alternatives>
<ukm:Alternative Date="2009-07-06" URI="http://www.legislation.gov.uk/ukpga/1976/40/pdfs/ukpga_19760040_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="301"/>
<ukm:BodyParagraphs Value="142"/>
<ukm:ScheduleParagraphs Value="159"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="4"/>
</ukm:Statistics>
</proprietary>
</meta>
<portionBody>
<hcontainer name="schedules" eId="d4e63">
<heading>SCHEDULES</heading>
<hcontainer name="schedule" eId="schedule-4">
<num>SCHEDULE 4</num>
<heading>Life Policies, Etc</heading>
<hcontainer name="crossheading" eId="schedule-4-crossheading-industrial-assurance-policies">
<heading>Industrial assurance policies</heading>
<paragraph eId="schedule-4-paragraph-11">
<num>11</num>
<subparagraph eId="schedule-4-paragraph-11-1">
<num>1</num>
<intro>
<p>This paragraph applies to—</p>
</intro>
<paragraph eId="schedule-4-paragraph-11-1-a">
<num>a</num>
<content>
<p>
a policy issued in the course of an industrial assurance business as denned in section 1(2) of the
<noteRef href="#m00172" placement="inline" class="margin-note"/>
Industrial Assurance Act 1923 or the
<noteRef href="#m00173" placement="inline" class="margin-note"/>
Industrial Assurance Act (Northern Ireland) 1924; and
</p>
</content>
</paragraph>
<paragraph eId="schedule-4-paragraph-11-1-b">
<num>b</num>
<content>
<p>a policy issued by a registered friendly society in the course of tax exempt life or endowment business (as denned in section 337(3)).</p>
</content>
</paragraph>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-11-2">
<num>2</num>
<content>
<p>If a policy to which this paragraph applies was issued before the passing of this Act section 19 shall have effect in relation to it as if subsections (2)(b), (3) and (4) were omitted ; and if a policy to which this paragraph applies was issued after the passing of this Act, paragraph (b) of section 19(2) shall have effect in relation to it as if it permitted the insurance to be on the life of the individual's parent or grandparent or, subject to sub-paragraph (3) below, on the life of the individual's child or grandchild.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-11-3">
<num>3</num>
<content>
<p>Relief may be given in respect of premiums under a policy of insurance on the life of an individual's child or grandchild which is issued after the passing of this Act as if paragraph (b) of section 19(3) were omitted, but may be given only if the annual amount of the premiums, together with that of any relevant premiums, does not exceed £52 ; and for this purpose a relevant premium, in relation to an insurance made at any time on the life of an individual's child or grandchild, is any premium under a policy of insurance on the same life, where the insurance is made at the same time or earlier, whether it is made by the individual or any other person.</p>
</content>
</subparagraph>
<subparagraph eId="schedule-4-paragraph-11-4">
<num>4</num>
<content>
<p>In this paragraph " child " has the same meaning as in section 10 and " grandchild ", " parent" and " grandparent " have corresponding meanings.</p>
</content>
</subparagraph>
</paragraph>
<paragraph eId="schedule-4-paragraph-12">
<num>12</num>
<content>
<p>In paragraph 4(1) of Schedule 1, sub-paragraph (iii) of paragraph (d) shall be omitted, together with the " and " preceding it, and after paragraph (d) there shall be inserted the words " or if the policy was issued before 6th April 1976, or was issued before 6th April 1979 and is in substantially the same form as policies so issued before 6th April 1976. ".</p>
</content>
</paragraph>
</hcontainer>
</hcontainer>
</hcontainer>
</portionBody>
</portion>
</akomaNtoso>