SCHEDULES

SCHEDULE 2Transitionals and savings etc.

Part 5Savings and investment income: general

Gains from contracts for life insurance etc: pure protection group life policies

90(1)For the purposes of Chapter 9 of Part 4, any event occurring before 9th April 2003 in relation to a policy of life insurance which, at the time of the event, was a pure protection group life policy is deemed not to be a chargeable event.

(2)For the purposes of this paragraph a policy of life insurance is at any time a pure protection group life policy if at that time it is a group life policy whose terms do not provide for any sums or other benefits to be paid or conferred except on death or disability.