{
  "url": "https://openlegislation.uk/general-insurance-reserves-tax-regulations-2001/regulation-5.5",
  "json_url": "https://openlegislation.uk/general-insurance-reserves-tax-regulations-2001/regulation-5.5.json",
  "legislation": "uksi/2001/1757",
  "legislation_title": "The General Insurance Reserves (Tax) Regulations 2001",
  "legislation_url": "https://openlegislation.uk/general-insurance-reserves-tax-regulations-2001",
  "path": "regulation/5.5",
  "kind": "regulation",
  "number": "5.5",
  "heading": "Rule 5",
  "text": "In this Rule—\nA is the average of the gross redemption yields, expressed as a percentage, applicable to 5-year British Government Stocks as compiled by the Financial Times, the Institute of Actuaries and the Faculty of Actuaries, which were compiled for each of the first five business days beginning with the day on which the balance sheet date fell or, if that day was not a business day, the first business day thereafter;\nB is the London Interbank Offered Rate, in the market which exists between banks in London for the purpose of borrowing and lending funds and dealing in currencies, at which deposits for a term of 12 months were offered in the relevant foreign currency on the day on which the balance sheet date fell (or if that day was not a business day, the first business day thereafter) as determined by the British Banking Association; and\nC has the same meaning as B, but with the word “sterling” substituted for the words “the relevant foreign currency”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2001/1757/regulation/5.5",
    "retrieved_at": "2026-10-29T07:49:13.666634+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}