[F1Units in CIVs held by life insurance companiesU.K.
Textual Amendments
F1Sch. 5AAA inserted (with effect in accordance with Sch. 1 paras. 120, 123 of the amending Act) by Finance Act 2019 (c. 1), Sch. 1 para. 21
10(1)This paragraph applies if an election under paragraph 8 has effect in relation to an offshore collective investment vehicle.U.K.
(2)The election is treated as having no effect for the purposes of this Act in relation to any units in the vehicle which are held by an insurance company for the purposes of its long-term business.]