This is the original version (as it was originally enacted).
67(1)Schedule 11 (loan relationships: special provisions for insurers) is amended as follows.
(2)In paragraph 2, for sub-paragraph (1) substitute—
“(1)Where an insurance company carries on basic life assurance and general annuity business, a separate computation, using only the non-trading credits and non-trading debits referable to that business, shall be made for the purposes of this Chapter in relation to that business.”
(3)In paragraph 3A(5)—
(a)after “(6A)” insert “, (6B)”,
(b)for “subsections (6)(a) and (6A)(a)” substitute “subsection (6)”, and
(c)omit paragraph (c) and the word “and” before it.
(4)In paragraph 4—
(a)in sub-paragraph (1), omit paragraph (b) and the word “or” before it,
(b)in sub-paragraph (2)(a), for “the relevant category of business” substitute “basic life assurance and general annuity business”,
(c)in sub-paragraph (7), for “the relevant category of business” substitute “its basic life assurance and general annuity business”,
(d)in sub-paragraph (10), for “the relevant category of business” (in both places) substitute “basic life assurance and general annuity business”, and
(e)omit sub-paragraph (16).
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