Paragraph

(22) Venture capital trusts
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In Schedule 28B, in paragraph 9, in sub-paragraph (1) the words “subject to sub-paragraph (2) below” and sub-paragraph (2).

These repeals have effect in accordance with section 161 of this Act.

(23) Life assurance business losses
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	Section 436(3)(aa).
		Section 439B(3)(b).
		Section 441(4)(aa).
1995 c. 4.	The Finance Act 1995.	In Schedule 8, paragraph 16(4) and (5).

These repeals have effect in accordance with paragraph 10(2) of Schedule 31 to this Act.

(24) Management expenses of insurance companies
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In section 434(1)(b), the words from “of the tax” onwards.
		In section 434D(8), in paragraph (b) of the second sentence, the words from “of the tax” onwards.
		In section 442(3), the words “otherwise than for the purposes of section 76(2)”.
		In section 473, subsection (5).
		In Schedule 19AC—
		(a) in paragraph 5(1), in the subsection (6B) deemed to be inserted in section 76, the words “and subsections (2) and (3)(b) above”; and
		(b) in paragraph 9, in the subsection (1A) deemed to be inserted in section 434, the words from “of the tax” onwards.
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	In Schedule 10, in paragraph 14(27)(a), the words “and (5)”.

These repeals come into force in accordance with section 164(5) of this Act.

(25) Annual payments under insurance policies
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	Section 434B(1).

This repeal has effect in accordance with section 165 of this Act.

(26) Industrial assurance business
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In section 431(2)—
		(a) the definitions of “industrial assurance business” and of “ordinary long term business” and “ordinary life assurance business”; and
		(b) in the definition of “long term business fund”, the words from “or, where” to “so maintained”.
		Section 432(2).
		In section 458(3), the words “or industrial assurance business”.
1989 c. 26.	The Finance Act 1989.	Section 83A(5).
1990 c. 29.	The Finance Act 1990.	In Schedule 6, paragraph 3.

These repeals come into force in relation to accounting periods beginning on or after 1st January 1996.

(27) Provisional repayments in connection with insurance companies’ pension business
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In Schedule 19AB, in paragraph 1(5)(b), the word “and” immediately preceding sub-paragraph (ii) and paragraphs 1(8) and 6(3).
		In Schedule 19AC, paragraph 15(1).

These repeals have effect in accordance with section 169 of, and Schedule 34 to, this Act.

(28) Friendly societies
Chapter	Short title	Extent of repeal
1992 c. 48.	The Finance (No. 2) Act 1992.	In Schedule 9, paragraph 14(2).

This repeal has effect in accordance with section 171 of this Act.

(29) Loans to participators etc.
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In section 419(6), the words “and to a company not resident in the United Kingdom”.

This repeal has effect in accordance with section 173(6) of this Act.

(30) Chargeable gains: non-resident companies
Chapter	Short title	Extent of repeal
1992 c. 12.	The Taxation of Chargeable Gains Act 1992.	Section 13(5)(a) and (6).
		In Schedule 5, paragraph 8(10).

These repeals come into force in relation to gains accruing on or after 28th November 1995.

(31) Cancellation of tax advantages: transactions in certain securities
Chapter	Short title	Extent of repeal
1996 c. 8.	The Finance Act 1996.	In section 175, subsections (2) and (3) and, in subsection (4), the words “Except as provided by subsection (3) above,”.

These repeals have effect in accordance with section 175(3) of this Act.

(32) Sub-contractors in the construction industry
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In section 566(2), the words “and any such regulations may make different provision for different circumstances.”

(33) Capital allowances: roll-over relief in respect of ships
Chapter	Short title	Extent of repeal
1990 c. 1.	The Capital Allowances Act 1990.	In section 33C(2), the words “to be”, in the first place where they occur.

(34) Controlled foreign companies
Chapter	Short title	Extent of repeal
1988 c. 1.	The Income and Corporation Taxes Act 1988.	In section 747A, subsection (7) and, in subsection (8), the words “the company is not a trading company and”.
		In Schedule 25, in paragraph 2A, in sub-paragraph (1), the words “which is not a trading company” and sub-paragraphs (6) and (7) and, in paragraph 3, sub-paragraphs (1) to (4) and, in sub-paragraph (5), the words “the available profits or, where the company is not a trading company,”.

These repeals have effect in accordance with section 182 of this Act.