- Latest available (Revised)
- Original (As made)
The Insurance Companies (Transitional Provisions) Regulations 2012
You are here:
- UK Statutory Instruments
- 2012 No. 3009
- Regulation 15
What Version
Opening Options
More Resources
Status:
This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Apportionment to BLAGAB where section 67 of Finance Act 2012 applies
This section has no associated Explanatory Memorandum
15.—(1) If section 67 of the Finance Act 2012 (exception where BLAGAB small part of long-term business) (“section 67”) applies to an insurance company for the accounting period beginning on 1 January 2013, any amount that would apart from this regulation be apportioned to basic life assurance and general annuity business under these Regulations must instead be apportioned to gross roll-up business.
(2) If section 67 applies to an insurance company in a subsequent accounting period when the full amount of the receipts or expenses within paragraph 9 of Schedule 17 of the business has not been treated as arising to the company, the receipts or expenses are to continue to be dealt with in accordance with the provisions of Schedule 17 but are treated as arising for that accounting period and the remainder of the 10 year period in question as receipts or expenses within paragraph 10 of Schedule 17.
(3) But paragraph (2) does not apply if paragraph 14 of Schedule 17 applies.
Options/Help
Print Options
PrintThe Whole Instrument
PrintThis Section only
Legislation is available in different versions:
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Opening Options
Different options to open legislation in order to view more content on screen at once
Explanatory Memorandum
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
More Resources
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as enacted version that was used for the print copy
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- correction slips
- links to related legislation and further information resources
More Resources
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
- the original print PDF of the as made version that was used for the print copy
- correction slips
Click 'View More' or select 'More Resources' tab for additional information including:
- lists of changes made by and/or affecting this legislation item
- confers power and blanket amendment details
- all formats of all associated documents
- links to related legislation and further information resources
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.