{
  "url": "https://openlegislation.uk/finance-act-2007/schedule-10/paragraph-8",
  "json_url": "https://openlegislation.uk/finance-act-2007/schedule-10/paragraph-8.json",
  "legislation": "ukpga/2007/11",
  "legislation_title": "Finance Act 2007",
  "legislation_url": "https://openlegislation.uk/finance-act-2007",
  "path": "schedule/10/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) In section 431(2) of ICTA (interpretative provisions relating to insurance companies) insert at the appropriate place—\n““non-profit company”, in relation to a period of account, means a company carrying on long-term business where, at the end of the period—\n(a) none of the liabilities of that business, or\n(b) none but an insignificant proportion of those liabilities,\nare with-profits liabilities;”,\n““non-profit fund” means a fund that is not a with-profits fund;”, and\n““with-profits fund” has the meaning given by the Prudential Sourcebook (Insurers);”.\n(2) Omit—\n(a) in section 432YA(5) of ICTA, the definitions of “non-profit company” and “non-profit fund”,\n(b) section 82D(5) of FA 1989,\n(c) in section 83YA of that Act, subsection (8) and, in subsection (11), the definition of “with-profits fund”, and\n(d) in section 83A of that Act, in subsections (2)(b) and (3D)(b) “(see subsection (6))” and subsection (6).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2007/11/schedule/10/paragraph/8",
    "retrieved_at": "2026-10-29T09:12:51.142391+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}