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6.—(1) Section 431H (company carrying on life assurance business and other insurance business)(1) is modified as follows.
(2) For subsection (1) substitute—
“(1) This section applies in relation to an insurance company which carries on two or more of the following—
(a)life assurance business,
(b)tax exempt life assurance business,
(c)tax exempt other business, and
(d)insurance business of any other kind.”
(3) In subsection (2)—
(a)omit the word “and” immediately following paragraph (a),
(b)after paragraph (a) insert—
“(aa)tax exempt life assurance business,
(ab)tax exempt other business, and”, and
(c)in paragraph (b), for “the” substitute “any”.
Section 431H, together with section 431G, was substituted for section 432 by paragraph 4 of Schedule 8 to the Finance Act 2007.
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