Regulation 4 Amendment to the Taxation of Insurance Securitisation Companies Regulations 2007

The Taxation of Insurance Securitisation Companies Regulations 2007^f1 are amended as follows.

At the end insert—

“The Taxation (International and Other Provisions) Act 2010

12.

Section 414(3)(b) (qualifying net group-interest expense, results dependent securities) of TIOPA 2010 does not apply in relation to any interest paid or other distribution made by an insurance securitisation company.”