66(1) Where section 65 (postponement of change to mark to market
in certain cases) applies in relation to a period of account, the
company may elect that it shall continue to apply in relation to subsequent
periods of account as regards assets held by it on 1st January 2002.
Any such election must be made within twelve months after the end
of the accounting period of the company current on that date.
66(2) An insurance company that carries on both
long-term business and business other than long-term business may
make an election under this section limited to assets held by the
company otherwise than in the company's long-term insurance fund.
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