Regulation 3 Child trust fund business

For the purposes of these Regulations “child trust fund business”, in relation to an insurance company, means so much of that company’s life assurance business as is referable to any policy of life insurance, or to the reinsurance of liabilities under any such policy, where the policy is, on the date on which the insurance is made, a qualifying investment for an account within the meaning of regulation 12 of the principal Regulations.