# Finance Act 2012, Paragraph 152


In section 388(3) (basic rule: deficit set off against income and gains of deficit period), for “before any expenses deduction under section 76 of ICTA (expenses of insurance companies)” substitute “ in accordance with step 4 in section 73 of FA 2012 (that is to say, before any deduction for the adjusted BLAGAB management expenses of the company for the deficit period) ”.

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/16/paragraph/152 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-16/paragraph-152
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.