{
  "url": "https://openlegislation.uk/finance-act-2012/section-63",
  "json_url": "https://openlegislation.uk/finance-act-2012/section-63.json",
  "legislation": "ukpga/2012/14",
  "legislation_title": "Finance Act 2012",
  "legislation_url": "https://openlegislation.uk/finance-act-2012",
  "path": "section/63",
  "kind": "section",
  "number": "63",
  "heading": "Meaning of “long-term business” and “PHI business”",
  "text": "(1) For the purposes of this Part “long-term business” means—\n(a) life assurance business, or\n(b) other business which consists of the effecting or carrying out of contracts of long-term insurance.\n(2) For the purposes of this Part “PHI business” means the other business mentioned in subsection (1)(b).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/14/section/63",
    "retrieved_at": "2026-10-29T09:08:44.989153+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}