SCHEDULES

SCHEDULE 9U.K.Insurance companies: transfers etc

Transfers and demutualisations: losses where assets added to long-term insurance fundU.K.

11(1)FA 1989 is amended as follows.U.K.

(2)Omit—

(a)in section 83, subsections (3) to (7) and, in subsection (8), the definitions of “add”, “demutualisation” and “total reinsurance” (which relate to losses where assets added to long-term insurance fund),

(b)section 83AA (amounts added to long-term insurance fund in excess of loss), and

(c)section 83AB (treatment of surplus where there is subsequent transfer from company etc).

F1(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .