PART XII U.K. SPECIAL CLASSES OF COMPANIES AND BUSINESSES

CHAPTER I U.K. INSURANCE COMPANIES, UNDERWRITERS AND CAPITAL REDEMPTION BUSINESS

[F1 Miscellaneous provisions relating to life assurance business] U.K.

Textual Amendments

F1 Cross-heading before s. 434 inserted (with effect in accordance with Sch. 8 para. 57(1) of the amending Act) by Finance Act 1995 (c. 4), Sch. 8 para. 51(4) (with Sch. 8 para. 55(2))

438 Pension business: exemption from tax. U.K.

(1) M1 Exemption from corporation tax shall be allowed in respect of income [F2 from assets solely linked to pension business.]

(2) F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F5 (3AA) F4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(4) F3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F7 (6A) F8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

[F9 (6B) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6C) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6D) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(6E) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

(7) F6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(8) F10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

[F11 (9) F12 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F2 Words in s. 438(1) substituted (with effect in accordance with s. 38(2) of the amending Act) by Finance Act 2007 (c. 11), Sch. 7 para. 26(2) (with Sch. 7 Pt. 2)

F3 S. 438(2)(4) repealed (with effect in accordance with s. 38(2) of the repealing Act) by Finance Act 2007 (c. 11), Sch. 7 para. 26(3), Sch. 27 Pt. 2(7), Note (with Sch. 7 Pt. 2)

F4 S. 438(3)(3AA) repealed (with effect in accordance with Sch. 3 para. 6(7) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 3 para. 6(2), Sch. 8 Pt. 2(6), Note

F5 S. 438(3AA) inserted (3.5.1994) by Finance Act 1994 (c. 9), Sch. 16 para. 6(2)

F6 S. 438(5)-(7) repealed (with effect in accordance with Sch. 3 para. 6(7)-(9) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 3 para. 6(4)(5), Sch. 8 Pt. 2(6), Note (with Sch. 3 para. 13(17))

F7 1990 s.45(9).

F8 S. 438(5)-(7) repealed (with effect in accordance with Sch. 3 para. 6(7)(8), Sch. 8 Pt. 2(6) Note of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 3 para. 6(4)(5), Sch. 8 Pt. 2(6)

F9 S. 438(6B)-(6E) inserted (3.5.1994) by Finance Act 1994 (c. 9), Sch. 16 para. 6(4)

F10 S. 438(8) repealed (6.4.2006) by Finance Act 2004 (c. 12), Sch. 42 Pt. 3, Note

F11 S. 438(9) inserted (with effect in accordance with Sch. 8 para. 57(1) of the amending Act) by Finance Act 1995 (c. 4), Sch. 8 para. 28(2) (with Sch. 8 para. 55(2))

F12 S. 438(9) repealed (with effect in accordance with Sch. 3 para. 6(8) of the repealing Act) by Finance (No. 2) Act 1997 (c. 58), Sch. 3 para. 6(6), Sch. 8 Pt. 2(6), Note

Modifications etc. (not altering text)

C1 S. 438 amended (27.7.1993) by 1993 c. 34, s. 78(6)(11)

C2 S. 438 modified (3.5.1994) by Finance Act 1994 (c. 9), Sch. 18 para. 1(5)

C3 S. 438 modified (6.4.1999) by The Individual Savings Account (Insurance Companies) Regulations 1998 (S.I. 1998/1871), regs. 1, 5, 14 (and as substituted (22.8.2000) by The Individual Savings Account (Insurance Companies) (Amendment) Regulations 2000 (S.I. 2000/2075), regs. 1, 4)

C4 S. 438(1) modified (6.4.2005) by The Child Trust Funds (Insurance Companies) Regulations 2004 (S.I. 2004/2680), regs. 1, 4, 12; S.I. 2004/3369, art. 2(1)

Marginal Citations

M1 Source—1970 s.314(1); 1970(F) Sch.5 Part III 11(3), (6)(c)