# The General Insurance Reserves (Tax) (Amendment) Regulations 2005, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amends the General Insurance Reserves (Tax) Regulations 2001 (S.I. 2001/1757: “the principal Regulations”).
Regulation 1 provides for the citation and commencement of the Regulations.
Regulation 2 introduces the amendments to the principal Regulations.
Regulation 3 amends regulation 3 of the principal Regulations which contain the main rules on computation of the amount of reserves under section 107 of the Finance Act 2000 (c. 17).
Regulation 4(1) substitutes a new regulation 5 of the principal Regulations specifying rules to determine which currencies are to be used in calculations required under those Regulations. Paragraphs (2) and (3) make saving and transitional provisions in respect of the substitution.
These Regulations do not impose any new costs on business.

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Source: https://www.legislation.gov.uk/uksi/2005/3289/note (the official version)
Page: https://openlegislation.uk/general-insurance-reserves-tax-amendment-regulations-2005/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.