# The Overseas Life Insurance Companies Regulations 2006, Regulation 12: Modifications of the Income and Corporation Taxes Act


(1) Modify section 440A (securities) as follows.
(2) In subsection (2)—
(a) in paragraph (a) before “securities” in the first place where it occurs insert “UK”,
(b) in paragraphs (c) to (e) before “securities” insert “UK”,
(c) in paragraph (d) omit “and”, and
(d) at the end insert
“, and
(f) the non-UK securities shall be treated for those purposes as a separate holding which is not of any of the descriptions mentioned in the preceding paragraphs.”.
(3) After subsection (6) insert—
“(6A) For the purposes of this section —
(a) UK securities are such securities as are assets which fall to be attributed, for the purposes of section 11AA(2), to the permanent establishment in the United Kingdom through which the company carries on life assurance business; and
(b) non-UK securities are securities which are not UK securities.”.

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Source: https://www.legislation.gov.uk/uksi/2006/3271/regulation/12 (the official version)
Page: https://openlegislation.uk/overseas-life-insurance-companies-regulations-2006/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.