Amendments to the Friendly Societies (Modification of the Corporation Tax Acts) Regulations 199738
1
After regulation 44 insert—
44A
1
In the case of a friendly society, section 211ZA of the Taxation of Chargeable Gains Act 1992 shall be modified as follows.
2
In subsection (7), the word “taxable” shall be inserted before the words “basic life assurance and general annuity business”.
3
In subsection (10), the word “taxable” shall be inserted before the words “basic life assurance and general annuity business”.
2
This regulation has effect in relation to insurance business transfer schemes taking place on or after 1st January 2003.