Regulation 5 Adjustments to Table amounts

The amount in column 1 of category 14 cannot be reduced except as expressly provided in category 14.

Where the calculation of the mathematical reserves or the technical provisions referred to in category 12 includes amounts in respect of deferred tax, paragraphs (3) to (5) apply.

Amounts in column 2 of category 12 which relate to deferred policyholder tax are excluded from category 12 and are included in the determination of the particular item in category 8 or category 15 as the case may be.

If the aggregate of amounts in column 1 of category 12 which relate to deferred policyholder tax is a positive figure, that aggregate amount is excluded from category 12 and is included—

Amounts in respect of deferred tax not within paragraphs (3) or (4) are excluded from the amount in category 12 and are included as an amount in category 9.

If the total of all the particular items in relation to category 15 determined by the comparisons made under regulation 3 (adjusted under paragraphs (2) to (4) of this regulation) exceeds the deferred policyholder tax—

Where this paragraph applies and there is more than one particular item in relation to category 15, the extent to which each item is adjusted under subparagraphs (a) and (b) is determined on a just and reasonable basis.

For the purposes of paragraph (6), “deferred policyholder tax” means—