Paragraph 379

(1)

Amend section 210A (ring-fencing of losses) as follows.

(2)

In subsection (10A)—

(a)

for “Case I profits”, in both places where it occurs, substitute “ life assurance trade profits ”, and

(b)

for “provisions applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

(3)

In subsection (11)(c) (ring-fencing of losses) for “paragraph 4(3) of Schedule 11 to the Finance Act 1996” substitute “ section 389(1) of CTA 2009 ”.