# Capital Allowances Act 2001, Paragraph 111: Transfer of insurance company business


Section 560 applies with—
(a) the substitution for subsection (1) of—
“(1) This section applies if assets are transferred as part of, or in connection with, a transfer of the whole or part of the long term business of an insurance company to another company in accordance with a scheme sanctioned by a court under section 49 of the Insurance Companies Act 1982.”;
and
(b) the omission of subsection (2),
in relation to transfers sanctioned or authorised before 1st July 1994.

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Source: https://www.legislation.gov.uk/ukpga/2001/2/schedule/3/paragraph/111 (the official version)
Page: https://openlegislation.uk/capital-allowances-act-2001/schedule-3/paragraph-111
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.