Article 52 Miscellaneous amendmentsI1

United Kingdom

(1)

In the following provisions for “long term business fund” substitute “long-term insurance fund”—

(a)

section 333B(1), (2)(b), (3) and (9) (in the definition of “long term business fund”);

(b)

section 431(2) (in the definition of “long term business fund”);

(c)

section 432A(1)(a) and (9B) (in paragraph (b) in the definition of “investment reserve”)^f1;

(d)

section 432AA(2), (3) and (5)^f2;

(e)

section 438(1)^f3;

(f)

section 438B(1)^f4;

(g)

section 440(4)(e)^f5;

(h)

section 440A(2)(d)^f6;

(i)

section 440B(3)(a)^f7;

(j)

section 755A(1)(c), (5), (7) and (12) (in the definition of “long term business fund”)^f8;

(k)

the following paragraphs of Schedule 19AA^f9—

(i)

paragraph 2(1)(b), (2) (twice) and (3) (four times);

(ii)

paragraph 3(1)(a), (2)(a) and (3)(a);

(iii)

paragraph 4(1), (2) and (5) (in paragraph (b) in the definition of “investment reserve”);

F1(l)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(2)

In the following provisions for “long term” substitute “long-term”—

(a)

section 431(2) (in the definition of “long term business fund”);

(b)

section 432ZA(2)(a) and (b), (3) and (7) (twice)^f10;

(c)

section 432A(2)(f), (8)(a) (twice) and (b) and (9B) (in the first place where it occurs in the definition of “investment reserve”);

(d)

section 432AA(4)(d);

(e)

section 432C(1)^f11;

(f)

section 432D(1)^f12;

(g)

section 440B(4) (in section 440A(2)(a) treated as substituted);

(h)

section 444A(5)^f13;

(i)

section 463(1), (2) and (3)^f14;

(j)

section 466(2) (in the definition of “long term business”)^f15;

(k)

section 804B(4)(b) and (5)(b)^f16;

(l)

section 804C(13)(b)^f17;

(m)

the following paragraphs of Schedule 19AA—

(i)

paragraph 2(3)(d) (in the second place where it occurs);

(ii)

paragraph 4(2)(a) and (b), (4)(b) and (5) (in the first place where it occurs in the definition of “investment reserve”);

(n)

paragraph 5(5)(a) and (b) of Schedule 19AB^f18;

F2(o)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Art. 52(1)(l) revoked (31.12.2006 with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), regs. 1, 43(2), Sch. Pt. 2 (with reg. 1)
F2: Art. 52(2)(o) revoked (31.12.2006 with effect in accordance with reg. 1 of the amending S.I.) by The Overseas Life Insurance Companies Regulations 2006 (S.I. 2006/3271), regs. 1, 43(2), Sch. Pt. 2 (with reg. 1)

Commencement

I1: Art. 52 in force at 1.12.2001, see art. 1(2)(a)

Footnotes

f1: Section 432A was inserted, together with sections 432B to 432E, by paragraph 4 of Schedule 6 to the Finance Act 1990 and relevantly amended by paragraph 13(2) of Schedule 8 to the Finance Act 1995 and section 109(5) and (6) of the Finance Act 2000.
f2: Section 432AA was inserted by paragraph 39 of Schedule 5 to the Finance Act 1998.
f3: Section 438(1) was amended by paragraph 4(2) of Schedule 8 to the Finance Act 1995.
f4: Section 438B was inserted by paragraph 5 of Schedule 25 to the Finance Act 2001 (c. 9).
f5: Section 440(4) was substituted by paragraph 5(3) of Schedule 8 to the Finance Act 1995.
f6: Section 440A was substituted, together with section 440, for section 440 by paragraph 8 of Schedule 6 to the Finance Act 1990.
f7: Section 440B was inserted by paragraph 28(1) of Schedule 8 to the Finance Act 1995.
f8: Section 755A was inserted by paragraph 13 of Schedule 17 to the Finance Act 1998.
f9: Schedule 19AA was inserted by paragraph 6 of Schedule 7 to the Finance Act 1990 and relevantly amended by Articles 3 and 4 of S.I. 1994/3278 and Article 3 of S.I. 2000/2188.
f10: Section 432ZA was inserted by paragraph 11(2) of Schedule 8 to the Finance Act 1995.
f11: Section 432C(1) was amended by paragraphs 12(1)(a) and 14(2) of Schedule 8 to the Finance Act 1995.
f12: Section 432D(1) was amended by paragraphs 12(1)(a) and 15(2) of Schedule 8 to the Finance Act 1995.
f13: Section 444A(5) was amended by paragraph 17(5) of Schedule 8 to the Finance Act 1995.
f14: Section 463 was amended by section 50 of the Finance Act 1990, paragraph 10 of Schedule 9 to the Finance (No. 2) Act 1992 and section 171(5) of the Finance Act 1996.
f15: Section 466(2) was relevantly amended by section 171(2)(b) of the Finance Act 1996.
f16: Section 804B was inserted by paragraph 17 of Schedule 30 to the Finance Act 2000.
f17: Section 804C was inserted by paragraph 18(1) of Schedule 30 to the Finance Act 2000.
f18: Schedule 19AB was inserted by Schedule 8 to the Finance Act 1991 and is repealed by Part 2(12) of Schedule 33 to the Finance Act 2001 with effect in accordance with section 87 of that Act.