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Regulation 5 Amendments to the principal Regulations

Original text. Later amendments are not shown.

After regulation 21 there shall be inserted the following regulation—

“21A

In paragraph 9(1) of Schedule 19ACf1, in the notionally inserted subsection (1D) of section 434, there shall be added at the end the words “but this subsection shall not apply in relation to distributions in respect of which an overseas life insurance company is entitled to a tax credit in respect of its individual savings account business.”.”

Annotations

Footnotes

f1

Schedule 19AC to the Income and Corporation Taxes Act 1988 was inserted by paragraph 1 of Schedule 9 to the Finance Act 1993 (c. 34), and sub-paragraph (1) of paragraph 9 of Schedule 19AC was substituted by paragraph 13(6) of Schedule 3 to the Finance (No. 2) Act 1997, and amended by paragraph 29(2) of Schedule 4, and Part II(10) of Schedule 8, to the Finance (No. 2) Act 1997 with effect in relation to distributions made on or after 6th April 1999.