SCHEDULES

F3SCHEDULE 7A INSURANCE PREMIUM TAX: CONTRACTS THAT ARE NOT TAXABLE

Annotations:
Amendments (Textual)
F3

Sch. 7A inserted (1.10.1994) by S.I. 1994/1698, art. 5

PART I DESCRIPTIONS OF CONTRACT

Contracts relating to the Channel tunnel

11

1

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

F22

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” has the meaning given by paragraph 10(3) above.

4

For the purposes of this paragraph “relevant Channel tunnel equipment” means, subject to sub-paragraph (5) below, the fixed or movable equipment needed for the operation of the Channel tunnel system or for the operation of trains through any tunnel forming part of it and in particular includes—

a

any ventilation, cooling or electrical plant used or to be used in connection with any such operation; and

b

any safety, signalling and control equipment which is or is to be so used.

5

Equipment which consists of or forms part of—

a

roads, bridges, platforms, ticket offices and other facilities for the use of passengers or motor vehicles;

b

administrative buildings and maintenance facilities; and

c

railway track or signalling equipment which is not situated in any part of the Channel tunnel system,

is not relevant Channel tunnel equipment for the purposes of this paragraph.