SCHEDULES

[F1SCHEDULE 7AU.K. INSURANCE PREMIUM TAX: CONTRACTS THAT ARE NOT TAXABLE

Textual Amendments

F1Sch. 7A inserted (1.10.1994) by S.I. 1994/1698, art. 5

PART IU.K. DESCRIPTIONS OF CONTRACT]

Contracts relating to commercial aircraftU.K.

7(1)A contract falls within this paragraph if it relates only to a commercial aircraft and is [F2a contract of general insurance of a relevant class.]U.K.

[F3(2)For the purposes of this paragraph, a contract of general insurance is of a relevant class if it insures against risks arising from or in relation to—

(a)accidents,

(b)aircraft, or

(c)aircraft liability,

(and no other risks).]

(3)For the purposes of this paragraph a commercial aircraft is an aircraft which is—

(a)of a weight of 8,000 kilogrammes or more; and

(b)not designed or adapted for use for recreation or pleasure.

Textual Amendments

F2Words in Sch. 7A para. 7(1) substituted (1.12.2001) by S.I. 2001/3649, art. 346(6)(a)

F3Sch. 7A para. 7(2) substituted (1.12.2001) by S.I. 2001/3649, art. 346(6)(b)