These Regulations may be cited as the Insurance Companies (Overseas Life Assurance Business) (Compliance) (Amendment) Regulations 1998 and shall come into force on 6th April 1999.
Specified date: 6 April 1999: see above.
In regulation 2(1) of the Insurance Companies (Overseas Life Assurance Business) (Compliance) Regulations 1995—
(a) after the definition of “branch” there shall be inserted the following definition—
““individual savings account business” has the meaning given by regulation 3 of the Individual Savings Account (Insurance Companies) Regulations 1998;”;
(b) in the definition of “relevant business”, for the words “which is neither pension business nor”, in both places where they occur, there shall be substituted “other than pension business, individual savings account business or”.
Specified date: 6 April 1999: see reg 1.
S C T Matheson
Tim Flesher
Two of the Commissioners of Inland Revenue
31st July 1998
These Regulations amend the Insurance Companies (Overseas Life Assurance Business) (Compliance) Regulations 1995 so as to include references to individual savings account business of insurance companies within the meaning of regulation 3 of the Individual Savings Account (Insurance Companies) Regulations 1998 (SI 1998/1871).
