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Provision as to calculation of loss where company carries on life assurance business.
5 & 6 Vict. c. 35.
53 Vict. c. 8.
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12. In ascertaining for the purposes of section one hundred and one of the Income Tax Act, 1842, or of section twenty-three of the Customs and Inland Revenue Act, 1890, whether an assurance company has sustained a loss in respect of its life assurance business, any income of the company derived from the investment of its life assurance fund shall be treated as part of the profits of the company acquired in that business.
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