SCHEDULES
SCHEDULE 17Insurance companies etc
Transfers of business
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1
In section 444ABB(1A)(b)(ii) of ICTA (retained assets), for “liabilities” substitute “
mathematical reserves (as determined in accordance with section 1.2 of the Insurance Prudential Sourcebook)
”
.
2
The amendment made by sub-paragraph (1) has effect in relation to transfers of business taking place on or after 1 July 2008.