30 Transfer of basic life assurance and general annuity business
Finance (No 2) Act 2023 (2023 c 30) | Legislation

Provisions relating to insurance

30  Transfer of basic life assurance and general annuity business

(1)     In Part 2 of FA 2012 (insurance companies carrying on long-term business), after section 130 insert—

“130A Re-insurance in the course of transfer of BLAGAB

(1)     This section applies to a re-insurer in relation to the re-insurance of the whole, or part of, a cedant's basic life assurance and general annuity business, if—

(a)     the business is not excluded business for the purposes of section 57(2)(e), and

(b)     it is reasonable to suppose that the arrangements for the re-insurance are made, or are operated, in connection with an insurance business transfer scheme under which the business will be transferred to the re-insurer or a person connected with the re-insurer.

(2)     Where the arrangements are operated, but were not made, in connection

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Transferred malice

Transferred maliceThe principle of transferred maliceIf a person has a malicious intent towards X and, in carrying out that intent, injures Y, he is guilty of an offence. So, if D shoots at A with intent to kill him but kills B by mistake it is murder; the mistake as to the identity of the victim is

LEXISNEXIS

Common law offence of false imprisonment

Common law offence of false imprisonmentThe offence of false imprisonmentFalse imprisonment is a common law offence but it is more common as a civil action in tort (see Practice Note: False imprisonment).It is triable only on indictment. It may be classified in class 2A, 2B or 3 in accordance with

LEXISNEXIS

Subrogation in insurance and reinsurance

Subrogation in insurance and reinsuranceWhat is the right of subrogation?In the context of insurance and reinsurance, the right of subrogation entitles an insurer or reinsurer, having indemnified the (re)insured, to ‘step into its shoes’ to bring an action in the (re)insured’s name. For the purpose

LEXISNEXIS

Tort—the different types of tort

Tort—the different types of tortThis Practice Note identifies the main torts (bar negligence and nuisance, which are covered elsewhere in our related content) and their key characteristics. Specifically:•trespass to land•trespass to the person•privacy/defamation•liability for animals•employers'