Amendment of the Authorised Investment Funds (Tax) Regulations 20062
1
The Authorised Investment Funds (Tax) Regulations 2006 are amended as follows.
2
In regulation 48 (dividend distributions) at the end of paragraph (2A) insert—
unless the dividend distribution is made to—
a
an insurance company in respect of any non-BLAGAB long-term business carried on by it, or
b
an insurance special purpose vehicle that is not an insurance company in respect of any long-term business carried on by it that does not consist wholly of PHI business.
Expressions used in paragraph (a) or (b) have the same meaning as they have in Part 2 of FA 20123.
3
In the table in Part 1 of the Schedule (abbreviations of Acts) insert at the appropriate place—
FA 2012
The Finance Act 2012 (c. 14)