The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001

Effect of transfer of insurance business

29.—(1) In section 444A (effect of transfer of long-term insurance business)(1) for subsection (1) substitute—

(1) Subject to subsection (7) below, this section applies where an insurance business transfer scheme has effect to transfer long-term business from one person (“the transferor”) to another (“the transferee”)..

(2) This Article has effect in relation to any transfer under a scheme falling within section 105 of the Financial Services and Markets Act 2000, including an excluded scheme falling within Case 2, 3 or 4 of subsection (3) of that section.

(1)

Section 444A was inserted by paragraph 4 of Schedule 9 to the Finance Act 1990 and was relevantly amended by paragraph 1(1) and (2)(b) of Schedule 9 to the Finance Act 1995.