SCHEDULES

SCHEDULE 33Insurance companies

Case I profits

4

1

In section 83AA of the Finance Act 1989 (c. 26) (amounts added to long-term insurance fund of a company in excess of company’s loss), omit—

a

subsections (3) to (5),

b

subsection (6)(a),

c

subsection (7)(b) and the word “and” before it, and

d

in subsection (10), the definitions of “the relevant accounting period” and “the transferor company”.

2

Sub-paragraph (1) has effect for periods of account beginning on or after 1st January 2003.