# The Financing-Arrangement-Funded Transfers to Shareholders Regulations 2008, Regulation 12: Other cases where relevant financing arrangements meet the reinsurance condition: life assurance business and PHI business


(1) This regulation applies if, in a section 83YD(2) period of account—
(a) an insurance company carries on both life assurance business and PHI business,
(b) each relevant financing arrangement of the company in force in that period of account—
(i) meets the reinsurance condition (and not the loan condition), or
(ii) meets both the reinsurance condition and the loan condition, and
(c) there has been only one section 83YC(3) amount in that period of account and all preceding periods of account.
(2) The part of the section 83YD(2) amount referable to life assurance business is a fraction of that amount, determined in accordance with regulation 6(2), for the period of account in which the section 83YC(3) amount arose in respect of the section 83YD arrangement.

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Source: https://www.legislation.gov.uk/uksi/2008/1926/regulation/12 (the official version)
Page: https://openlegislation.uk/financing-arrangement-funded-transfers-to-shareholders-regulations-2008/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.