[46B Contract of life insurance entered into before 22nd March 2006 which immediately before that day is property to which section 71 applies]
Inheritance Tax Act 1984 (1984 c 51) | Legislation

[46B  Contract of life insurance entered into before 22nd March 2006 which immediately before that day is property to which section 71 applies]

[(1)     Subsections (2) and (5) below apply where—

(a)     a settlement commenced before 22nd March 2006,

(b)     a contract of life insurance was entered into before that day,

(c)     a premium payable under the contract is paid, or an allowed variation is made to the contract, at a particular time on or after that day,

(d)     immediately before that day, and at all subsequent times up to the particular time, there were rights under the contract that—

(i)     were comprised in the settlement, and

(ii)     were settled property to which section 71 below applied,

(e)     rights under the contract become, by reference to payment of the premium or as a result of the variation, comprised in the settlement, and

(f)     any variation

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