Valid from 12/08/2008
Modification of section 444ABD (transferor's period of account including transfer)U.K.
8C(1)Modify section 444ABD (transferor's period of account including transfer) as follows.
(2)In subsection (1) for paragraphs (a) and (b) substitute—
“(a)the value of the liabilities transferred by the insurance business transfer scheme (but excluding those which arise from deposit back arrangements), exceeds
(b)the value, immediately before the transfer, of the assets transferred by the insurance business transfer scheme,”.
(3)In subsection (1E) for “amount” (in the first place) substitute “ value ”.