SCHEDULE 7 Overseas Life Assurance Business
F11
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F22
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F33
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4
In section 724 of that Act—
(a)
in subsection (3), for the words after “insurance company” there shall be substituted the words “
to the extent that the securities transferred are immediately before the transfer referable to a business the profits of which are computed in accordance with section 436 or 441.
”
, and
(b)
in subsection (4), for the words after “apply”, in the first place where it occurs, there shall be substituted the words “
if the transferee is an insurance company to the extent that the securities transferred are immediately after the transfer referable to a business the profits of which are computed in accordance with section 436 or 441.
”
F45
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F56
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F67
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F78
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F89
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10
(1)
This Schedule shall apply for accounting periods beginning on or after 1st January 1990; and paragraph 9 above shall apply for accounting periods beginning on or after that date and ending on or before 5th April 1990 as well as for later accounting periods.
F9(2)
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