120 Overseas life insurance companies: rule corresponding to s 119
Finance Act 2012 (2012 c 14) | Legislation

120  Overseas life insurance companies: rule corresponding to s 119

(1)     If the assets of an overseas life insurance company include securities of a class all of which would, but for this section, be regarded as one holding for the purposes of corporation tax on chargeable gains, the following pooling rules apply instead for those purposes—

(a)     so many of the securities so far as UK securities matched to BLAGAB liabilities of the company are treated as a separate holding,

(b)     so many of the securities so far as UK securities matched to other long-term business liabilities of the company are treated as a separate holding,

(c)     so many of the securities as are UK securities held

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