The Insurance Companies (Overseas Life Assurance Business) (Compliance) (Amendment) Regulations 1997

• Citation: S.I. 1997/481
• Sections: 2

Section 1

These Regulations may be cited as the Insurance Companies (Overseas Life Assurance Business) (Compliance) (Amendment) Regulations 1997, shall come into force on 19th March 1997, and shall have effect in relation to accounting periods beginning on or after 1st November 1994.

Section 2

In the Insurance Companies (Overseas Life Assurance) (Compliance) Regulations 1995 , the following regulation shall be inserted after regulation 3—

Exclusion of business of friendly society which is exempt from tax

(3A) These Regulations do not apply to any business of a friendly society the profits arising from which are exempt from income tax and corporation tax under section 460(1) .