Regulation 30 Modification of the Taxation of Chargeable Gains Act 1992

In section 212 (annual deemed disposal of holdings of unit trusts etc) after subsection (5) insert—

“(5A)

In its application to an overseas life insurance company, this section shall have effect as if the references in subsections (1) and (2) to assets were to such of the assets concerned as fall to be attributed, for the purposes of section 11AA(2) of the Taxes Act, to the permanent establishment in the United Kingdom through which the company carries on life assurance business.”.