Section 63 Meaning of “long-term business” and “PHI business”C1
(1)
For the purposes of this Part “long-term business” means—
(a)
life assurance business, or
(b)
other business which consists of the effecting or carrying out of contracts of long-term insurance.
(2)
For the purposes of this Part “PHI business” means the other business mentioned in subsection (1)(b).
Annotations
Modifications
- C1
S. 63 modified (31.12.2012) by The Friendly Societies (Modifications of the Tax Acts) Regulations 2012 (S.I. 2012/3008), regs. 1(1), 7 (with regs. 1(2), 2)