Regulation 3 Amendment of the General Insurance Reserves (Tax) Regulations 2001

(1)

Amend paragraph (3) of regulation 3 (recalculation of technical provisions for the purposes of section 107) as follows.

(2)

In Rule 8A.3(b) after “account” insert “for which an election under section 107(4) was made in respect of the provision for the earlier period”.

(3)

In Rule 9.3^f1 for “sections 92 to 93A” substitute “sections 92 to 92C^f2”.

Annotations

f1: Rule 9.3 was amended by regulations 3, 5(1) and 3(k) of S.I. 2003/2862.
f2: Sections 92 to 93A were substituted by sections 92 to 92E by section 52 of, and paragraph 77 of Schedule 10 to, the Finance Act 2004 (c. 12).