Regulation 40 Modification of the Finance Act 2002

In Schedule 26—

(a)

in the case of an EEA firm or a Treaty firm, in paragraph 4 (contracts excluded by virtue of their underlying subject matter), in sub-paragraph (2A)^f1—

(i)

after paragraph (a) insert—

“(aa)
the company is an EEA firm or a Treaty firm within the meaning of Chapter 1 Part 12 of ICTA;”, and

(ii)

in paragraph (b) for the words “is an approved derivative for the purposes of Rule 4.3.5 of the Integrated Prudential Sourcebook” substitute “is a derivative instrument falling within article 23.3 of the EC Consolidated Life Directive (EC/2002/83)”.

(b)

in paragraph 28 (transactions within groups), in sub-paragraph (2)(d) omit “by paragraph 6(9) of Schedule 19AC to that Act”.

Annotations

Footnotes

f1: Paragraph (2A) was substituted by articles 2 and 4 of S.I. 2005/646, articles 2 and 5 of S.I. 2005/2082 and articles 3 and 5 of S.I. 2005/3440.