SCHEDULES
F2F2F1SCHEDULE 19AC
Sch. 19AC inserted (27.7.1993) by 1993 c. 34, s. 97, Sch. 9 para.1
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F41
In section 440A(2), in paragraph (a) the words “UK securities” shall be treated as substituted for the word “securities” in the first place where it occurs.
2
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
In paragraphs (d) and (e) of that subsection, the words “UK securities”shall be treated as substituted for the word “securities”
4
The following paragraphs shall be treated as inserted at the end of that subsection—
“
the section 11C securities shall be treated for those purposes as a separate holding which is not of any of the descriptions mentioned in the preceding paragraphs; and
g
the non-UK securities shall be treated for those purposes as a separate holding which is not of any of the descriptions mentioned in the preceding paragraphs.”
5
The following subsection shall be treated as inserted after subsection (6) of that section—
F6“
For the purposes of this section—
a
UK securities are such securities as are—
i
section 11(2)(b) assets;
ii
section 11(2)(c) assets; or
iii
assets which by virtue of section 11B are attributed to the branch or agency in the United Kingdom through which the company carries on life assurance business;
b
section 11C securities are securities—
i
(in a case where section 11C (other than subsection (9)) applies) which are assets of the relevant fund, other than UK securities; or
ii
(in a case where that section including that subsection applies) which are assets of the relevant funds, other than UK securities;
c
non-UK securities are securities which are not UK securities or section 11C securities;
and any expression used in this subsection to which a meaning is given by section 11A has that meaning.”
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Sch. 19AC repealed (31.12.2006 with effect in accordance with reg. 1 of the repealing S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), reg. 43(1), Sch. Pt. 1