# The Overseas Life Insurance Companies (Amendment No. 2) Regulations 2007, Regulation 5: Amendment of regulation 11


In regulation 11(4) (modifications of section 440 of the Income and Corporation Taxes Act 1988)—
(a) in the inserted subsection (4AA), after “Act” insert “2001”, and
(b) after the inserted subsection (4AA) insert—
“(4AB) Where goodwill is acquired by an EEA firm or a Treaty firm (“the transferee”) as a result of an insurance business transfer scheme which has effect to transfer long-term business from any person who is not such a firm to the transferee—
(a) if the goodwill (or part of it) was within the category set out in paragraph (e) of subsection (4) above immediately before the acquisition, the goodwill (or part) shall for the purposes of subsections (2) and (3) above be treated as being within that category immediately afterwards, and
(b) if the goodwill (or part of it) was within the category set out in paragraph (f) of subsection (4) above immediately before the acquisition, the goodwill (or part) shall for the purposes of subsections (2) and (3) above be treated as being within that category immediately afterwards.”

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Source: https://www.legislation.gov.uk/uksi/2007/3449/regulation/5 (the official version)
Page: https://openlegislation.uk/overseas-life-insurance-companies-amendment-no-2-regulations-2007/regulation-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.