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Finance Act 2015

Amendment of section 730E of Principal Act (declarations)

23. (1) Section 730E(2) of the Principal Act is amended by deleting “at or about the time of the inception of the life policy” in paragraph (a).

(2) (a) Subsection (1) shall apply to any life policy (within the meaning of Part 26 of the Principal Act) commenced on or after 1 May 2006.

(b) As respects chargeable events occurring on or prior to 31 December 2015 in relation to policies referred to in paragraph(a), section 865(4) of the Principal Act shall apply as if the reference in that subsection to the making of a claim within 4 years after the end of the chargeable period to which the claim relates was a reference to the making of a claim within 4 years after the end of the chargeable period ending on 31 December 2016.