1 Citation and commencement

These Regulations may be cited as the Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) (Amendment) Regulations 2008 and shall come into force on 27th October 2008.

NOTES
Initial Commencement
Specified date

Specified date: 27 October 2008: see above.

2 Amendment of the Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997

2Amendment of the Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997

(1)    The Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997 are amended as follows.

(2)    In regulation 2 (interpretation)—

(a)    In paragraph (1), in the definition of “the Board”, for “of Inland Revenue” substitute “for Her Majesty's Revenue and Customs”, and

(b)    in paragraph (3), for “Chapter II of Part XIII of the Taxes Act” substitute “Chapter 9 of Part 4 of the Income Tax (Trading and Other Income) Act 2005”.

NOTES
Initial Commencement
Specified date

Specified date: 27 October 2008: see reg 1.

Signature

Mike Eland

3rd October 2008

Dave Hartnett

6th October 2008

Two of the Commissioners for Her Majesty's Revenue and Customs

EXPLANATORY NOTE

EXPLANATORY NOTE (This note is not part of the Regulations)

These Regulations amend the Life Assurance and Other Policies (Keeping of Information and Duties of Insurers) Regulations 1997 (SI 1997/265 as amended by SI 2002/444) (“the principal Regulations”).

The provisions of Chapter II of Part XIII of the Income and Corporation Taxes Act 1988 (“ICTA”) have been re-enacted as provisions of the Income Tax (Trading and Other Income) Act 2005 (“ITTOIA”). Paragraph 3 and 7 of Schedule 14 to the Finance Act 2008 (c 9) (“FA 2008”) repealed the provisions of Chapter II of Part XIII of ICTA (except section 552 to 552B). These Regulations make an amendment in consequence of those changes and an amendment as a consequence of the Commissioners for Revenue and Customs Act 2005 (“CRCA 2005”).

Regulation 1 provides for citation and commencement of these Regulations.

Regulation 2 amends the definition of “the Board” in regulation 2(1) of the principal Regulations as a consequence of the CRCA 2005 and also substitutes for the reference, in regulation 2(3) of the principal Regulations, to Chapter II of Part XIII of ICTA (which provisions were repealed by FA 2008), a reference to the corresponding provisions of ITTOIA.

A full impact assessment has not been produced for this instrument as a no impact on the private or voluntary sectors is foreseen.
Company Law & Business Entities92 Companies & Corporate Bodies92

Lexis®Library

  • The current law in England and Wales, consolidated by the incorporation of amendments into existing legislation, by an expert team of editorsView Consolidated Version
  • Halsbury's SI CitatorHalsbury's SI Citator
  • Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView all related commentary
  • Cases related to this particular case that are related to, or discuss this caseView related cases