# Finance Act 2012, Paragraph 98


For section 255 substitute—
“Apportionment of allowances and charges
255 (1) This section applies if the long-term business of the company consists of—
(a) basic life assurance and general annuity business, and
(b) non-BLAGAB long-term business.
(2) In that case—
(a) any allowance to which the company is entitled for a chargeable period in respect of a management asset, and
(b) any charge to which it is liable for a chargeable period in respect of a management asset,
must be apportioned between the businesses in accordance with Chapter 7 of Part 2 of FA 2012.”

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Source: https://www.legislation.gov.uk/ukpga/2012/14/schedule/16/paragraph/98 (the official version)
Page: https://openlegislation.uk/finance-act-2012/schedule-16/paragraph-98
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.