7U.K.In section 83XA of FA 1989 (structural assets), omit—
(a)subsections (10) and (11), and
(b)in subsection (15), “or (10)”.
8(1)In section 431(2) of ICTA (interpretative provisions relating to insurance companies), in the definition of “free assets amount”, after “long-term business” insert “ , other than any structural assets (within the meaning of section 83XA of the Finance Act 1989), ”.U.K.
(2)The amendment made by sub-paragraph (1) has effect for periods of account beginning on or after 1 January 2007.