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Application of life assurance provisions of the Corporation Tax Acts to capital redemption business

3.  The life assurance provisions of the Corporation Tax Acts specified in regulations 4 to 16 shall have effect in relation to any insurance company carrying on capital redemption business–

(a)as if the company’s capital redemption business were life assurance business; and

(b)as respects its capital redemption business, with the modifications provided for in those regulations.