61 Section 57: meaning of “overseas life assurance business”
Finance Act 2012 (2012 c 14) | Legislation

61  Section 57: meaning of “overseas life assurance business”

(1)     This section defines for the purposes of the definition of “basic life assurance and general annuity business” given by section 57 what is meant by “overseas life assurance business”.

(2)     Life assurance business is “overseas life assurance business” if—

(a)     it consists of the effecting or carrying out of contracts with policyholders or annuitants who are not resident in the United Kingdom, and

(b)     it does not consist of excluded business,

but the re-insurance of business that meets the conditions in paragraphs (a) and (b) is not “overseas life assurance business”.

(3)     For this purpose “excluded business” means—

(a)

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