# The Overseas Life Insurance Companies (Amendment) Regulations 2005, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend the Overseas Life Insurance Companies Regulations 2004 (S.I. 2004/2200).
Regulation 1 provides for the citation commencement and effect of the Regulations.
Regulation 2 introduces the amendments.
Regulations 3 and 4 amend—
(a) paragraph 6(10) treated as inserted into Schedule 19AC to the Income and Corporation Taxes Act 1988 (c. 1);
(b) paragraph1AA treated as inserted into Schedule 8A to the Finance Act 1989 (c. 26);
(c) sub-paragraph (1A) treated as inserted in paragraph 1B of that Schedule; and
(d) sub-paragraph (6A) treated as inserted in paragraph 2 of that Schedule;
so as to apply to Treaty firms, within the meaning of paragraph 1 of Schedule 4 to the Financial Services and Markets Act 2000 (FISMA) the same treatment as applies under the provisions listed in paragraphs (a) to (d) to EEA firms within the meaning of Schedule 3 to FISMA. Such Treaty firms are those which do not have an EEA right within the meaning of Schedule 4 to FISMA but are authorised persons for the purposes of that Act as a result of applying for an authorisation under paragraph 2 of Schedule 4 to FISMA and whose home state authorisation is to carry on the business of effecting contracts of insurance as principal or the activity of carrying out such a contract as principal or both.
These Regulations do not impose new costs on business.

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Source: https://www.legislation.gov.uk/uksi/2005/3375/note (the official version)
Page: https://openlegislation.uk/overseas-life-insurance-companies-amendment-regulations-2005/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.