Citation, commencement, effect and interpretation
1.—(1) These Regulations may be cited as the Group Relief for Overseas Losses (Modification of the Corporation Tax Acts for Non-resident Insurance Companies) Regulations 2006, and shall come into force on 26th December 2006.
(2) These Regulations shall have effect for accounting periods beginning on or after 1st April 2006.
(3) In these Regulations—
“EEA company” means a non-resident company—
which is resident in an EEA territory; or
which is not so resident but which carries on a trade in an EEA territory through a permanent establishment;
“EEA territory”, and “non-resident company”, have the respective meanings in section 413(2) of the Income and Corporation Taxes Act 1988(1);
“EEA general insurer” means an EEA company whose business consists of the effecting or carrying out of contracts falling within Part 1 of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(2);
“EEA life insurance company” means an EEA company whose business consists of, or includes, the effecting or carrying out of contracts falling within Part 1 of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001; and
a reference to a section without more, in regulations 3 to 9 is to that section of the Income and Corporation Taxes Act 1988, and in regulation 10 is to that section of the Finance Act 1989(3).