482 Excepted group life policies: conditions about persons intended to benefit
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

482  Excepted group life policies: conditions about persons intended to benefit

(1)     Conditions A to C are the conditions referred to in section 480(3)(b) (definition of “excepted group life policy”).

(2)     Condition A is that any sums payable or other benefits arising under the policy must (whether directly or indirectly) be paid to or for, or conferred on, or applied at the direction of—

(a)     an individual or charity beneficially entitled to them, or

(b)     a trustee or other person acting in a fiduciary

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