PART XII SPECIAL CLASSES OF COMPANIES AND BUSINESSES
CHAPTER I INSURANCE COMPANIES, UNDERWRITERS AND CAPITAL REDEMPTION BUSINESS
F1Miscellaneous provisions relating to life assurance business
F2F3444ABARelevant non-transferred assets
1
For the purposes of section 444AB the relevant amount in relation to assets that are relevant non-transferred assets is—
where—
FVA is the fair value of the assets on the transfer date, and
F4BTO is the lesser of ABTO and AL13, where—
- a
ABTO is any amount brought into account in respect of the assets as a business transfer-out and shown (or treated as shown) in line 32 of Form 40 in the periodical return of the transferor for the period of account of the transferor including the transfer date, and
- b
AL13 is any positive amount shown (or treated as shown) in line 13 of Form 14 in the periodical return for the last period of account of the transferor ending before the transfer date.
2
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
F5. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
See section 444AA for the meaning of “the transfer date”F6. . . in this section.
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))