Related Commentary  

24(1)  This section makes provision in a case where the non-UK resident company mentioned in subsection (1) of section 21 is an insurance company.

24(2)  In accordance with the principle in that subsection, the permanent establishment is treated as holding–

(a)the same or a similar quantity of assets, and

(b)assets of the same or similar description,

as would have been held by a distinct and separate enterprise acting as mentioned in paragraphs (a) and (b) of that subsection.

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