3(1)Section 76 (expenses of insurance companies) is amended as follows.U.K.
(2)In subsection (1), omit the second sentence.
(3)In subsection (7), in Step 5—
(a)for “sum (“amount S”) of the amounts” substitute “ amount (“amount S”) ”, and
(b)for “436 or 439B” substitute “ 436A ”.
(4)Omit subsection (14).
(5)In subsection (15), omit the definition of “capital redemption business”.