1.—(1) These Regulations may be cited as the Overseas Life Insurance Companies (Amendment) Regulations 2007 and shall come into force on 14th August 2007.
(2) Subject to paragraph (3), these Regulations have effect in relation to periods of account beginning on or after 1st January 2007 which end on or after the date on which these Regulations come into force.
(3) Regulation 14 has effect in relation to such periods of account only where the transfer of business or demutualisation concerned took place before 21st March 2007.