PART 2Insurance companies carrying on long-term business
CHAPTER 1Introductory
Meaning of “basic life assurance and general annuity business”
59Section 57: meaning of “child trust fund business”
1
This section defines for the purposes of the definition of “basic life assurance and general annuity business” given by section 57 what is meant by “child trust fund business”.
2
Life assurance business is “child trust fund business” if it consists of the effecting or carrying out of child trust fund policies.
3
But the re-insurance of business consisting of the effecting or carrying out of child trust fund policies is not “child trust fund business”.
4
In this section “child trust fund policy” means a policy of life insurance which is an investment under a child trust fund (within the meaning of the Child Trust Funds Act 2004).