Finance Act 2012 (c. 14)

SCHEDULES

SCHEDULE 18 U.K. Part 3: consequential amendments

Income and Corporation Taxes Act 1988 U.K.

13 (1) Schedule 15 (qualifying policies) is amended as follows. U.K.

(2) In paragraph 3—

(a) in sub-paragraphs (1) and (4)(c), for “tax exempt life or endowment business” substitute “ exempt BLAGAB or eligible PHI business ”,

(b) in sub-paragraph (8)(b)(i), for “a new society” substitute “ a society other than an old society ”, and

(c) in sub-paragraph (8)(b)(ii), for “a society other than a new society” substitute “ an old society ”.

(3) In paragraph 4(3)(b)(ii), for “a new society” substitute “ a society other than an old society ”.

(4) Omit paragraph 5.

(5) In paragraph 6—

(a) in sub-paragraph (1)—

(i) omit “(as defined in section 466)” in both places, and

(ii) for “tax exempt life or endowment business” substitute “ exempt BLAGAB or eligible PHI business ”, and

(b) in sub-paragraph (2), for “section 464” substitute “ section 160 of the Finance Act 2012 ”.

(6) After paragraph 6 insert—

“6A Any expression—

(a) which is used in any provision made by any of paragraphs 3 to 6, and

(b) which is used in Part 3 of the Finance Act 2012,

has the same meaning in that provision as it has in that Part.”