SCHEDULES
SCHEDULE 7Insurance business: gross roll-up business etc
Part 1Amendments
Finance Act 1996 (c. 8)
65
FA 1996 is amended as follows.
66
In paragraph 12(3) of Schedule 9 (loan relationships: special computational provisions), for “440(4)(a) to (e)” substitute “
440(4)(a), (d) and (e)
”
.
67
1
Schedule 11 (loan relationships: special provisions for insurers) is amended as follows.
F12
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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).