155 Meaning of “exempt” BLAGAB or eligible PHI business
Finance Act 2012 (2012 c 14) | Legislation

155  Meaning of “exempt” BLAGAB or eligible PHI business

(1)     In this Part “exempt” BLAGAB or eligible PHI business means BLAGAB or eligible PHI business other than non-qualifying business.

(2)     Business is “non-qualifying” so far as it consists of—

(a)     the assurance of gross sums, or the granting of annuities, which meet the conditions set out in the following table (which vary according to the date on which the contracts in question were made), or

(b)     the effecting or carrying out of contracts for the assurance of gross sums which are made on or after 20 March 1991 and which are expressed at the outset not to be made in the course of exempt BLAGAB or eligible PHI business.

(3)     This is the table mentioned above—

Contracts to which assurance or annuities relateApplicable limit for premiums or gross sumsApplicable limit for annuities
Contracts
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