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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Individual Savings Account (Insurance Companies) Regulations 1998 (S.I. 1998/1871). The amendments ensure that an insurance company is entitled to a tax credit in respect of distributions received relating to its individual savings account business, and that any such credit is brought into account in computing the insurance company’s profit from its individual savings account business.