SCHEDULES
SCHEDULE 9Insurance companies: transfers etc
Transfers and demutualisations: losses where assets added to long-term insurance fund
11
(1)
FA 1989 is amended as follows.
(2)
Omit—
(a)
in section 83, subsections (3) to (7) and, in subsection (8), the definitions of “add”, “demutualisation” and “total reinsurance” (which relate to losses where assets added to long-term insurance fund),
(b)
section 83AA (amounts added to long-term insurance fund in excess of loss), and
(c)
section 83AB (treatment of surplus where there is subsequent transfer from company etc).
F1(3)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .