Finance Act 2020
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Insurance regulations - stamp duty | ||
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51. The Principal Act is amended— | ||
(a) in section 103(1), in the definition of “appropriate person”— | ||
(i) by deleting paragraphs (e) and (f), | ||
(ii) in paragraph (j), by substituting “for themselves,” for “for themselves;”, and | ||
(iii) by inserting the following paragraph after paragraph (j): | ||
“(k) an insurance undertaking (within the meaning of the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 ));”, | ||
(b) in section 124B(1), in paragraph (b) of the definition of “insurer”, by substituting “the holder of an authorisation to carry on insurance of a class listed in Schedule 2 to the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 )” for “the holder of an authorisation within the meaning of the European Communities (Life Assurance) Framework Regulations 1994 ( S.I. No. 360 of 1994 )”, | ||
(c) in section 125(1) — | ||
(i) in the definition of “assessable amount”, by substituting “a leading insurer (as that term is used in the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 ))” for “a leading insurer (within the meaning of the European Communities (Co-insurance) Regulations, 1983 ( S.I. No. 65 of 1983 ))”, and | ||
(ii) in the definition of “insurer”, by substituting “the holder of an authorisation to carry on insurance of a class listed in Schedule 1 to the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 )” for “the holder of an authorisation within the meaning of the European Communities (Non-Life Insurance) Framework Regulations, 1994 ( S.I. No. 359 of 1994 )”, | ||
and | ||
(d) in section 125B(1), by substituting the following for the definition of “insurer”: | ||
“‘insurer’ means the holder of an authorisation to carry on insurance of a class listed in Schedule 2 to the European Union (Insurance and Reinsurance) Regulations 2015 ( S.I. No. 485 of 2015 )”. |