The General Insurance Reserves (Tax) Regulations 2001

1. Introductory Text

2. 1. Citation, commencement and effect

3. 2. Interpretation

4. 3. Recalculation of technical provisions for the purposes of section 107

5. 1.1. Rule 1

6. 2.1. Rule 2

7. 2.2. The result of this Rule is referred to as “the...

8. 3.1. Rule 3

9. 3.2. Any such payment, bonus, rebate, deemed payment or provision is...

10. 4.1. Rule 4

11. 4.2. Where, or to the extent that, this Rule applies, the...

12. 5.1. Rule 5

13. 5.2. The discount period for any liability shall not extend later...

14. 5.3. It shall be assumed for the purposes of this calculation...

15. 5.4. The discount rate for the whole of the discount period...

16. 5.5. In this Rule— (A) is the average of the gross...

17. 5.6. The discount shall in principle be computed separately for each...

18. 5.7. Aggregate the discounted liabilities and the result is referred to...

19. 6.1. Rule 6

20. 7.1. Rule 7

21. 7.2. If the amount of the difference exceeds the margin for...

22. 7.3. The result of Rule 7 represents the cumulative excess or...

23. 8.1. Rule 8

24. 8.2. Where there has been no intervening period (as mentioned in...

25. 9.1. Rule 9

26. 9.2. Where the later period of account falls in more than...

27. 9.3. The amount of interest so calculated is the amount to...

28. 10.1. Rule 10

29. 4. Provisions supplementing regulation 3

30. 5. Currency elections

31. 6. Excluded descriptions of general insurer

32. 7. “Technical provisions” in relation to an underwriting member

33. 8. Elections under section 107(4), or paragraph 4(2) of Schedule 24 to the Taxes Act

34. 9. Generally

35. Signature

36. Explanatory Note