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 lifeboats and lifeboat equipment

5

1

A contract falls within this paragraph if it relates only to a lifeboat 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

accidents,

b

ships, or

c

liabilities of ships,

(and no other risks).

3

For the purposes of this paragraph a lifeboat is a vessel used or to be used solely for rescue or assistance at sea.