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Finance Act 1994, Cross Heading: Contracts relating to risks outside the United Kingdom is up to date with all changes known to be in force on or before 04 October 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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8(1)A contract falls within this paragraph if it relates only to a risk which is situated outside the United Kingdom.U.K.
[F1(2)The question of whether a risk is situated in the United Kingdom shall be determined in accordance with [F2the Table in sub-paragraph (3)].]
[F3(3)This is the Table referred to in sub-paragraph (2)—
Where— | The risk is situated in— |
---|---|
the contract relates to a building, to some or all of the contents of a building or to a building and some or all of its contents | the country or territory in which the building is situated |
the contract relates to vehicles of any type | the country or territory in which the vehicle is registered |
the contract covers travel or holiday risks and has a duration of four months or less | the country or territory in which the policyholder entered into the contract |
the contract does not fall within any of the previous entries and the policyholder is an individual | the country or territory in which the policyholder is habitually resident on the date on which the contract is entered into |
the contract does not fall within any of the previous entries | the country or territory in which the establishment of the policyholder to which the contract relates is situated on the date on which the contract is entered into. |
(4)For the purposes of the last entry in the Table, “establishment”, in relation to a policyholder (“P”), means—
(a)P’s head office or any of P’s agencies or branches, or
(b)any permanent presence of P (which need not take the form of a branch or agency and, for example, may consist of an office managed by P’s staff or by a person who is independent of P but who has permanent authority to act for P as if the person were an agency).]
Textual Amendments
F1Sch. 7A para. 8(2) substituted (1.12.2001) by S.I. 2001/3649, art. 346(7)(a)
F2Words in Sch. 7A para. 8(2) substituted (24.2.2022 in relation to contracts of insurance entered into on or after that date) by Finance Act 2022 (c. 3), s. 73(2)(4)
F3Sch. 7A para. 8(3)(4) inserted (24.2.2022 in relation to contracts of insurance entered into on or after that date) by Finance Act 2022 (c. 3), s. 73(3)(4)
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