{
  "url": "https://openlegislation.uk/insurance-companies-transitional-provisions-regulations-2012/regulation-13",
  "json_url": "https://openlegislation.uk/insurance-companies-transitional-provisions-regulations-2012/regulation-13.json",
  "legislation": "uksi/2012/3009",
  "legislation_title": "The Insurance Companies (Transitional Provisions) Regulations 2012",
  "legislation_url": "https://openlegislation.uk/insurance-companies-transitional-provisions-regulations-2012",
  "path": "regulation/13",
  "kind": "regulation",
  "number": "13",
  "heading": "Apportionment in relation to a non-profit fund: category 14",
  "text": "(1) This regulation applies to a relevant computational item which relates to category 14.\n(2) Each relevant computational item must be apportioned between the specified businesses as follows—\n(a) a fraction equal to the applicable relevant fraction must be apportioned to the business described in paragraph 8(1)(b) of Schedule 17 (gross roll up business);\n(b) a fraction equal to—\n1−AAF must be apportioned to the business described in paragraph 8(1)(c) of Schedule 17 (PHI business), where AAF is the applicable appropriate fraction; and\n(c) the remainder must be apportioned to the business described in paragraph 8(1)(a) of Schedule 17 (basic life assurance and general annuity business).\n(3) The applicable relevant fraction is, on the assumptions in paragraph (5), the total of—\n(a) the relevant fractions in relation to appropriate periods of account beginning on or after 9 December 2009, and\n(b) the relevant fraction in relation to the last period of account beginning before 9 December 2009 where section 47(4) of the Finance Act 2010 (apportionment of asset value increases) would apply,\nweighted in accordance with the amount of the relevant computational item to which each of those fractions applies as a proportion of the total of those amounts.\n(4) The applicable appropriate fraction is, on the assumptions in paragraph (5), the total of—\n(a) the appropriate fractions in relation to appropriate periods of account beginning on or after 9 December 2009, and\n(b) the appropriate fraction in relation to the last period of account beginning before 9 December 2009 where section 47(4) of the Finance Act 2010 (apportionment of asset value increases) would apply,\nweighted in accordance with the amount of the relevant computational item to which each of those fractions applies as a proportion of the total of those amounts.\n(5) The assumptions are that—\n(a) section 432CA of ICTA (apportionment of asset value increase where line 51 amount decreases) applies in relation to the period of account ending on 31 December 2012,\n(b) the period of account ending on 31 December 2012 is an “appropriate period of account” for the purposes of that section, and\n(c) “the affected amount” for the purposes of that section is equal to the relevant computational item to which this regulation applies.\n(6) In this regulation—\n“appropriate period of account” has the same meaning as in section 432CA(5) of ICTA (apportionment of asset value increase where line 51 amount decreases);\n“the appropriate fraction” has the meaning given in section 432C(5) of ICTA (section 432B apportionment non-participating funds);\n“the relevant fraction” has the meaning given in section 432C(9) of ICTA (section 432B apportionment non-participating funds).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "2010 c. 13."
    },
    {
      "type": "footnote",
      "label": "f2",
      "text": "“ICTA” is defined in section 228 of the Finance Act 2012 as the Income and Corporation Taxes Act 1988. Section 432CA was inserted by section 47 of the Finance Act 2010."
    },
    {
      "type": "footnote",
      "label": "f3",
      "text": "Section 432C was substituted by paragraph 17 of Schedule 7 to the Finance Act 2007 (c. 11) and subsection (5) has been amended by paragraph 10(3) of Schedule 17 to the Finance Act 2008 (c. 9)."
    },
    {
      "type": "footnote",
      "label": "f4",
      "text": "Section 432C(9) has been amended by paragraph 10(3) of Schedule 17 to the Finance Act 2008 and by section 56(1) of the Finance Act 2011."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/3009/regulation/13",
    "retrieved_at": "2026-10-29T01:11:38.393638+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."
}