This section has no associated Explanatory Notes
169(1)Section 635 (creditor relationships of insurance companies: embedded derivatives which are options) is amended as follows.U.K.
(2)In subsection (1)(a), for “life assurance business” substitute “ basic life assurance and general annuity business ”.
(3)In subsection (2), for “This Part” substitute “ For the purpose of applying the I - E rules, this Part ”.