SCHEDULES
SCHEDULE 7Insurance business: gross roll-up business etc
Part 1Amendments
Taxation of Chargeable Gains Act 1992 (c. 12)
60
TCGA 1992 is amended as follows.
61
In section 204(10) (policies of insurance and non-deferred annuities)—
a
for “as defined in section 458(3)” substitute “
within the meaning of Chapter 1 of Part 12
”
, and
b
omit “other”.
62
In section 210B—
a
omit paragraph (b) of subsection (6) and the word “or” before it, and
b
in subsection (8)
(disposal and acquisition of section 440A securities), in the definition of “chargeable section 440A holding”, for “(2)(a)(iii)” substitute “
(2)(a)(i)
”
.
63
In section 212(2)
(annual deemed disposal of holdings of certain assets), for the words from “pension business” to the end substitute “
gross roll-up business
”
.
64
In section 213(1A) (spreading of gains and losses under section 212), omit the words following “general annuity business”.