SCHEDULE 16Part 2: minor and consequential amendments
PART 3Amendments of other Acts
Corporation Tax Act 2009
150
(1)
Section 386 (overview of Chapter 10 of Part 5 (insurance companies)) is amended as follows.
(2)
In subsection (2)—
(a)
in paragraph (a), after “apply” insert “
for the purposes of the I - E rules
”
and at the end insert “
and
”
, and
(b)
omit paragraph (c) (together with the “and” before it).
(3)
In subsection (3)—
(a)
in paragraph (a), omit “or of BLAGAB”,
(b)
in paragraph (a), after “trade)” insert “
and section 88 of FA 2012 (equivalent rule for activities carried on in the course of BLAGAB)
”
, and
(c)
in paragraph (f), for “as expenses of insurance companies at Step 1 of section 76(7) of ICTA” substitute “
as ordinary BLAGAB management expenses
”
.