Part IV Income Tax, Corporation Tax and Capital Gains Tax

C2C3Chapter V Lloyd’s Underwriters: Corporations etc.

Annotations:
Modifications etc. (not altering text)
C2

Pt. IV Chapter V (ss. 219-230) modified (1.12.1997) by S.I. 1997/2681, reg. 3(2)(a)

C3

Pt. IV Chapter V (ss. 219-230) applied (1.5.1995) by 1995 c. 4, s. 129(4)(6)

Pt. IV Chapter V (ss. 219-230) applied (1.5.1995) by 1995 c. 4, s. 127(16)(a)(19)

Miscellaneous

C1227 Cessation: final underwriting year.

1

This section applies where a corporate member ceases to carry on its underwriting business, whether by reason of being wound up or otherwise.

2

Subject to the provisions of any regulations made by the Board—

a

the member’s final underwriting year shall be that in which its deposit at Lloyd’s is paid over to it or its liquidator, and

b

the member’s underwriting business shall be treated as continuing until the end of that year.