166 Transfers from friendly societies to insurance companies etc
Finance Act 2012 (2012 c 14) | Legislation

166  Transfers from friendly societies to insurance companies etc

(1)     For the purposes of this Part “relevant other business” means any business other than—

(a)     life assurance business, or

(b)     PHI business comprised in BLAGAB or eligible PHI business.

(2)     If—

(a)     at any time an insurance company acquires by way of transfer of engagements from a friendly society any relevant other business, and

(b)     immediately before that time the society was exempt from corporation tax on profits arising from that business as a result of section 164 or 165,

the

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