SCHEDULES

SCHEDULE 7A INSURANCE PREMIUM TAX: CONTRACTS THAT ARE NOT TAXABLE

PART I DESCRIPTIONS OF CONTRACT

Contracts relating to the Channel tunnel

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(1)

A contract falls within this paragraph if it relates only to the Channel tunnel system and is F1a contract of general insurance of a relevant class.

F2(2)

For the purposes of this paragraph, a contract of general insurance is of a relevant class if it insures against risks arising from or in relation to—

(a)

fire or natural forces,

(b)

damage to property, or

(c)

general liability to third parties,

(and no other risks).

(3)

For the purposes of this paragraph “the Channel tunnel system” means—

(a)

the tunnels described in section 1(7)(a) of the Channel Tunnel Act 1987;

(b)

the control towers situated in the terminal areas described in section 1(7)(b) of that Act; and

(c)

the shuttle crossovers, wherever situated.