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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 definition of “equalisation reserve rules” in the Insurance Companies (Reserves) (Tax) Regulations 1996 (S.I. 1996/2991: “the 1996 Regulations”) as a consequence of the introduction by the Financial Services Authority of the Integrated Prudential Sourcebook.

Regulation 1 provides for the citation, commencement and interpretation of the Regulations.

Regulation2(1) introduces, and regulation 2(2) makes, the amendment to the 1996 Regulations.

These Regulations do not impose new costs on business.