Regulation 4 Amendments to the principal Regulations
Regulation 4 shall be amended in accordance with paragraphs (2) to (4).
In paragraph (4) sub-paragraph (a) shall be omitted.
In paragraph (6), in the substituted sub-paragraph (5), in paragraphs (a)(i) and (b)(i) the word “solely” shall be omitted.
In paragraph (6), in the substituted sub-paragraph (5A)—
in the definition of “tax exempt basic life assurance and general annuity business” for the words “regulation 5(2) of the Friendly Societies (Modification of the Corporation Tax Acts) Regulations 1992” there shall be substituted the words “regulation 6(2) of the Friendly Societies (Modification of the Corporation Tax Acts) Regulations 1997”;
in the definition of “long term business”, for the words “regulation 5(4)” there shall be inserted the words “regulation 6(4)”.