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127(1)  This section applies in the case of an insurance company carrying on basic life assurance and general annuity business.

127(2)  None of the following reliefs are to be given against the policyholders' share of any I – E profit of the company for any accounting period (as determined for the purposes of section 102).

127(3)  The reliefs in question are–

(za)relief under section 124B (relief of excess carried-forward BLAGAB trade losses against total profits),

(a)relief under section 37 of CTA 2010 (including as applied by section 123),

(b)relief under Chapter 2 or 4 of Part 4 of CTA 2010 (loss relief),

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