# Finance Act 2012, Section 63: Meaning of “long-term business” and “PHI business”


(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).

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Source: https://www.legislation.gov.uk/ukpga/2012/14/section/63 (the official version)
Page: https://openlegislation.uk/finance-act-2012/section-63
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.