SCHEDULES

SCHEDULE 7 U.K.Insurance business: gross roll-up business etc

Part 1 U.K.Amendments

Capital Allowances Act 2001 (c. 2) U.K.

71 (1) Section 545 (investment assets) is amended as follows. U.K.

(2) In subsection (3), in the second sentence, for “sections 432ZA to 432E, or section 438B,” substitute “ section 432A ”.

(3) In subsection (5)—

(a) for the words from “under—” to “no allowance” substitute “ under section 436A of ICTA (gross roll-up business), no allowance ”, and

(b) for “the category of life assurance business in question” substitute “ gross roll-up business ”.