{
  "url": "https://openlegislation.uk/finance-act-2012/section-65",
  "json_url": "https://openlegislation.uk/finance-act-2012/section-65.json",
  "legislation": "ukpga/2012/14",
  "legislation_title": "Finance Act 2012",
  "legislation_url": "https://openlegislation.uk/finance-act-2012",
  "path": "section/65",
  "kind": "section",
  "number": "65",
  "heading": "Meaning of “insurance company”",
  "text": "(1) This section defines for the purposes of this Part what is meant by an “insurance company”.\n(2) A person who carries on the activity of effecting or carrying out contracts of insurance is an “insurance company” if—\n(a) the person has permission under Part 4 of FISMA 2000 to carry on that activity,\n(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .\n(3) The above definition is subject to the following qualifications—\n(a) a friendly society within the meaning of Part 3 is not an insurance company, and\n(b) an insurance special purpose vehicle (see section 139) is an insurance company only if, in addition to falling within subsection (2)(a), ... it is a BLAGAB group re-insurer.\n(4) A person is a “BLAGAB group re-insurer” if for an accounting period—\n(a) the person carries on basic life assurance and general annuity business,\n(b) it is not the case that substantially all of the person's long-term business is long-term business other than basic life assurance and general annuity business, and\n(c) all of its life assurance business is re-insurance business of a description which is excluded business for the purposes of section 57(2)(e).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 65(2)(b) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 21(2)(a) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 65(2)(c) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 21(2)(a) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in s. 65(3)(b) omitted (31.12.2020) by virtue of The Taxes (Amendments) (EU Exit) Regulations 2019 (S.I. 2019/689), regs. 1, 21(2)(b) (with regs. 39-41); 2020 c. 1, Sch. 5 para. 1(1)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 65 modified (with effect in accordance with Sch. 3 paras. 30-36 of the amending Act) by 2010 c. 8, s. 94(3) (as inserted by Finance (No. 2) Act 2023 (c. 30), Sch. 3 para. 28(1))"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2012/14/section/65",
    "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."
  }
}