# The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001, Article 81: Exchange gains and losses: chargeable gains

Extent: E+W+S+N.I.

(1) Amend Schedule 17 (exchange gains and losses: chargeable gains) as follows.
(2) In paragraph 3—
(a) in sub-paragraph (2)(a) for “long term” substitute “long-term”;
(b) in sub-paragraph (3) 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;”.
(3) In paragraph 7(4)—
(a) in paragraph (a) for “long term” substitute “long-term”;
(b) for the words immediately after paragraph (b) substitute “and “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.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3629/article/81 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-taxes-order-2001/article-81
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.