# The Financial Services and Markets Act 2000 (Consequential Amendments) (Taxes) Order 2001, Article 94: Loan relationships: continuity of treatment

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

(1) Amend paragraph 12 of Schedule 9 (loan relationships: continuity of treatment) as follows.
(2) In sub-paragraph (1) for paragraph (c) substitute—
“(c) a transfer between two companies of business consisting of the effecting or carrying out of contracts of long-term insurance which has effect under an insurance business transfer scheme;”.
(3) For paragraph (9) substitute—
“(9) In this paragraph—
“contracts of long-term insurance” means contracts which fall within Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;
“insurance business transfer scheme” means a scheme falling within section 105 of the Financial Services and Markets Act 2000, including an excluded scheme falling within Case 2, 3 or 4 of subsection (3) of that section;
“overseas life insurance company” has the same meaning as in Chapter 1 of Part 12 of the Taxes Act 1988.”.
(4) This Article has effect in relation to any transfer under a scheme falling within section 105 of the Financial Services and Markets Act 2000, including an excluded scheme falling within Case 2, 3 or 4 of subsection (3) of that section.

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Source: https://www.legislation.gov.uk/uksi/2001/3629/article/94 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-taxes-order-2001/article-94
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.