67.—(1) In section 213(5) (spreading of gains and losses accruing as a result of deemed disposal under section 212)(1) for the words from “there” to “1982” substitute “an insurance business transfer scheme has effect to transfer business which consists of the effecting or carrying out of contracts of long-term insurance 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.
Section 213(5) was amended by paragraphs 1(2)(d) and 4 of Schedule 9 to the Finance Act 1995.