70 Interpretation: taxable insurance contracts.U.K.
(1)Subject to [F1subsection (1A) below], any contract of insurance is a taxable insurance contract.
[F2(1A)A contract is not a taxable insurance contract if it falls within one or more of the paragraphs of Part I of Schedule 7A to this Act.
(1B)Part II of Schedule 7A to this Act (interpretation of certain provisions of Part I) shall have effect.]
F3(2). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(9). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
F3(10). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(11)This section has effect subject to section 71 below.
(12)This section and section 71 below have effect for the purposes of this Part.
Textual Amendments
F1Words in s. 70(1) substituted (1.10.1994) by S.I. 1994/1698, art. 4(a)
F2S. 70(1A)(1B) inserted (1.10.1994) by S.I. 1994/1698, art. 4(b)
F3S. 70(2)-(10) deleted (1.10.1994) by S.I. 1994/1698, art. 4(c)