Related Commentary  

6(1)  Modify section 431 (interpretative provisions relating to insurance companies) as follows.

6(1ZA)  Modify subsection (2) in accordance with paragraphs (1A) to (5).

6(1A)  In the definition of “foreign business assets” omit–

(a)either”,

(b)or” at the end of paragraph (a), and

(c)paragraph (b).

6(2)  In the definition of “insurance company”–

(a)in paragraph (a), after “contracts of insurance” insert “(a “UK-authorised firm”)”, and

(b)in paragraph (b)–

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