[F118QInsurance companiesU.K.
(1)So much of the profits or losses of a company as consists of profits or losses arising from basic life assurance and general annuity business F2... is not to be regarded as forming part of a relevant profits amount or relevant losses amount of the company for the purposes of this Chapter.
F3(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4)Any election under section 107(4) of FA 2000 (general insurance: adjustment for technical provision) is to be ignored for the purposes of this Chapter.]
Textual Amendments
F1Pt. 2 Ch. 3A inserted (19.7.2011) by Finance Act 2011 (c. 11), Sch. 13 paras. 4, 31
F2Words in s. 18Q(1) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 137(2)
F3S. 18Q(2)(3) omitted (17.7.2012) by virtue of Finance Act 2012 (c. 14), Sch. 16 para. 137(3)