{
  "url": "https://openlegislation.uk/lloyds-underwriters-special-reserve-funds-regulations-1995/regulation-7",
  "json_url": "https://openlegislation.uk/lloyds-underwriters-special-reserve-funds-regulations-1995/regulation-7.json",
  "legislation": "uksi/1995/353",
  "legislation_title": "The Lloyd’s Underwriters (Special Reserve Funds) Regulations 1995",
  "legislation_url": "https://openlegislation.uk/lloyds-underwriters-special-reserve-funds-regulations-1995",
  "path": "regulation/7",
  "kind": "regulation",
  "number": "7",
  "heading": "Cessation of underwriting business — modifications of Part I of Schedule 20",
  "text": "(1) For the purposes of the Income Tax Acts and these Regulations, references in paragraphs 1, 3 to 6, 8 and 10 of Schedule 20 to a member, other than references relating to a member’s special reserve fund, shall be construed, in the circumstances specified in paragraph (2) below and unless the context otherwise requires, as including references to the member’s personal representatives.\n(2) The circumstances specified in this paragraph are where—\n(a) the member dies on or after 6th April 1994, and\n(b) the member’s personal representatives carry on his underwriting business after his death.\n(3) This regulation shall have effect—\n(a) in its application to paragraphs 1, 3 to 6 and 8 of Schedule 20, for the year 1994–95 and subsequent years of assessment;\n(b) in its application to paragraph 10 of Schedule 20, for the year 1997–98 and subsequent years of assessment.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph 8 was substituted by paragraph 13 of Schedule 21 to the Finance Act 1994 (c. 9) with effect for the year 1994–95 and subsequent years of assessment. Paragraph 10 was amended by paragraph 14 of Schedule 21 to the Finance Act 1994 with effect for the year 1997–98 and subsequent years of assessment, and treated by that paragraph as omitted for the years 1994–95 to 1996–97."
    }
  ],
  "outstanding_effects": [
    {
      "type": "replaced (by regs.7, 7A)",
      "affecting": "uksi/1995/1185",
      "affecting_title": "The Lloyd’s Underwriters (Special Reserve Funds) (Amendment) Regulations 1995"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1995/353/regulation/7",
    "retrieved_at": "2026-10-29T13:16:34.051378+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."
}