# The Financing-Arrangement-Funded Transfers to Shareholders Regulations 2008, Regulation 3: Amounts wholly attributable to life assurance business or to gross roll-up business


(1) This regulation applies if, at the end of a section 83YC(3) period of account, each relevant financing arrangement of an insurance company has as a condition of the arrangement that—
(a) in the case of a loan, any repayment may only be made if the company has an amount of surplus from carrying on life assurance business or gross roll-up business and the repayment is made from that surplus, or
(b) in the case of a financial reinsurance arrangement, any recapture of liabilities may only be made if the company has an amount of surplus from carrying on life assurance business or gross roll-up business.
(2) The section 83YC(3) amount is wholly referable to life assurance business or to gross roll-up business (as the case may be).

---
Source: https://www.legislation.gov.uk/uksi/2008/1926/regulation/3 (the official version)
Page: https://openlegislation.uk/financing-arrangement-funded-transfers-to-shareholders-regulations-2008/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.