SCHEDULES

SCHEDULE 11Insurance companies

Transfers of business: modification of s. 83(2B) of FA 1989

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1

Section 444AD is amended as follows.

2

At the end insert—

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For the purposes of this section “insurance business transfer scheme” includes a scheme which would be such a scheme but for section 105(1)(b) of the Financial Services and Markets Act 2000 (which requires the business transferred to be carried on in an EEA State).

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The amendment made by this paragraph has effect in relation to schemes taking place on or after 22nd March 2006.