# The Risk Transformation (Tax) Regulations 2017, Regulation 3: Qualifying transformer vehicle


(1) A qualifying transformer vehicle is a transformer vehicle which—
(a) is a company limited by shares,
(b) carries out the activity of insurance risk transformation where substantially all of that activity relates to business other than basic life assurance and general annuity business, and
(c) is authorised under Part 4A of the Financial Services and Markets Act 2000 to carry out insurance risk transformation.
(2) In paragraph (1)(b), “basic life assurance and general annuity business” has the same meaning as in Part 2 of the Finance Act 2012.

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Source: https://www.legislation.gov.uk/ukdsi/2017/9780111160541/regulation/3 (the official version)
Page: https://openlegislation.uk/draft-risk-transformation-tax-regulations-2017/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.