[F1Long-term insurance funds of insurance companiesU.K.
This section has no associated Explanatory Memorandum
85S.—(1) No liability to tax arises under regulation 85M in respect of disposals of units of an insurance company’s long-term insurance fund.
(2) In paragraph (1) “insurance company” and “long-term insurance fund” have the same meaning as in section 431(2) of ICTA.]
Textual Amendments
F1Pt. 6A inserted (with effect in accordance with reg. 1(2) of the amending S.I.) by The Authorised Investment Funds (Tax) (Amendment) Regulations 2010 (S.I. 2010/294), regs. 1(1), 21 (with regs. 25, 26)