Textual Amendments
F1Sch. 19AC inserted (27.7.1993) by 1993 c. 34, s. 97, Sch. 9 para.1
14A(1)In Schedule 19AA, paragraph 5(5)(c) (and the reference to it in paragraph 2(3) of that Schedule) shall be treated as omitted.
(2)The following paragraph shall be treated as inserted at the end of that Schedule—
In its application to an overseas life insurance company this Schedule shall have effect as if—
(a)the references in paragraphs 2 and 3 to assets of the long term business fund were to such of the assets 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;F2. . .
(b)the references in paragraphs 2 and 4 to the liabilities of the company’s long term business were to such of those liabilities as are attributable to the branch or agency;[F3 and
(c)the references in paragraph 4 to any liabilities of the company’s long term business fund which represent a money debt were to any such of those liabilities as are attributable to the branch or agency;]
and any expression used in this paragraph to which a meaning is given by section 11A has that meaning.”.”
Textual Amendments
F2Word in Sch.19AC para. 14A(2) repealed (1.9.2000 with effect in accordance with art. 1 of the amending S.I.) by The Overseas Life Assurance Fund (Amendment) Order 2000 (S.I. 2000/2188), art. 5(2)(a)
F3Words in Sch. 19AC para. 14A(2) inserted (1.9.2000 with effect in accordance with art. 1 of the amending S.I.) by The Overseas Life Assurance Fund (Amendment) Order 2000 (S.I. 2000/2188), art. 5(2)(b)