Part III Policies Issued by Non-Resident Companies
Income and Corporation Taxes Act 1988 (1988 c 1) | Legislation

Part III Policies Issued by Non-Resident Companies

23

In this Part—

(a)ÌýÌýÌýÌý any reference to a paragraph is a reference to that paragraph of this Schedule; and

(b)ÌýÌýÌýÌý “the old policy†and “the new policy†have the same meanings as in paragraph 17.

24

(1)ÌýÌýÌýÌý This paragraph applies to a policy of life insurance—

(a)ÌýÌýÌýÌý which is issued in respect of an insurance made after 17th November 1983; and

(b)ÌýÌýÌýÌý which is so issued by a company resident outside the United Kingdom;

and in the following provisions of this paragraph such a policy is referred to as “a new non-resident policy†and the company by which it is issued is referred to as “the issuing companyâ€.

(2)ÌýÌýÌýÌý Notwithstanding anything in paragraph 21—

(a)ÌýÌýÌýÌý a new non-resident policy shall not be certified under sub-paragraph (1)(a) of that paragraph, and

(b)ÌýÌýÌýÌý a new non-resident policy which conforms with such a form as is mentioned in sub-paragraph (1)(b) of that paragraph shall not be a qualifying policy,

until such time as the conditions in either sub-paragraph (3) or sub-paragraph (4) below are fulfilled with respect to it.

[(2)ÌýÌýÌýÌý Subject to section 55(3) of

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

The supremacy of EU law

The supremacy of EU lawIP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an

LEXISNEXIS

False imprisonment

False imprisonmentLiabilityFalse imprisonment consists of the complete deprivation of liberty without a lawful basis. Claims will in practice be made against a public body that exercises detention powers, usually a local police force, the Secretary of State for the Home Department or the Secretary

LEXISNEXIS

Subrogation in insurance and reinsurance

Subrogation in insurance and reinsuranceWhat is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation entitles an insurer or reinsurer, having indemnified the (re)insured, to ‘step into its shoes’ to bring an action in the (re)insured’s name. For the purpose

LEXISNEXIS

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent

Section 2(1) of the Misrepresentation Act 1967 allows a claimant to claim damages for non-fraudulent misrepresentation, unless the representor can prove they had reasonable grounds for believing the statement to be true. If the representor had reasonable grounds for believing the statement to be