Article 76 Deferral of unrealised gainsI1

Amend section 143 (deferral of gains: supplementary) as follows.

In subsection (5)(a) for “long term” substitute “long-term”.

In subsection (6) for the definition of “long term insurance business” substitute—

• ““long-term insurance business” means business which consists of the effecting or carrying out of contracts which fall within Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;”.