Search Legislation

Capital Allowances Act 2001

 Help about what version

What Version

 Help about advanced features

Advanced Features

 Help about opening options

Opening OptionsExpand opening options

Changes over time for: Part 12

 Help about opening options

Alternative versions:

Status:

Point in time view as at 06/04/2024.

Changes to legislation:

Capital Allowances Act 2001, Part 12 is up to date with all changes known to be in force on or before 07 March 2025. 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. Help about Changes to Legislation

Part 12U.K. Supplemental

Transfer of insurance company businessU.K.

111Section 560 applies with—

(a)the substitution for subsection (1) of—

(1)This section applies if assets are transferred as part of, or in connection with, a transfer of the whole or part of the long term business of an insurance company to another company in accordance with a scheme sanctioned by a court under section 49 of the Insurance Companies Act 1982.;

and

(b)the omission of subsection (2),

in relation to transfers sanctioned or authorised before 1st July 1994.

Election regarding sale considerationU.K.

112(1)In relation to a transfer to which this paragraph applies, section 569(3) applies with the substitution for paragraph (a) of—

(a)any of the parties is not resident in the United Kingdom at the time of the transfer and the circumstances are not at that time such that a relevant allowance or charge falls or might fall to be made to or on that party as a result of the transfer;.

(2)This paragraph applies to—

(a)a transfer before 16th March 1993;

(b)a transfer in pursuance of a contract entered into before that date; and

(c)a transfer in pursuance of a contract entered into for the purpose of securing that obligations under a contract entered into before that date are complied with.

Back to top

Options/Help