|
|
Amendment of sections 198, 710 and 734 of Principal Act.
|
85.—The Principal Act is hereby amended—
|
|
| |
(a) in section 198(2), by the substitution of the following paragraphs for paragraphs (a) and (b):
|
|
| |
“(a) as if in section 445 the following subsection were substituted for subsection (2) of that section:
|
|
| |
‘(2) Subject to subsections (7) and (8), the Minister may give a certificate certifying that such trading operations of a qualified company as are specified in the certificate are, with effect from a date specified in the certificate, relevant trading operations for the purpose of this section.’,
|
|
| |
and
|
|
| |
(b) as if in section 446 the following subsection were substituted for subsection (2) of that section:
|
|
| |
‘(2) Subject to subsections (7) and (9), the Minister may give a certificate certifying that such trading operations of a company as are specified in the certificate are, with effect from a date specified in the certificate, relevant trading operations for the purpose of this section.’.”,
|
|
| |
(b) in section 710(2), by the substitution of the following paragraph for paragraph (b):
|
|
| |
“(b) In applying the definition of ‘foreign life assurance business’ in section 451(1) for the purposes of paragraph (a), section 446 shall apply as if the following subsection were substituted for subsection (2) of that section:
|
|
| |
‘(2) Subject to subsections (7) and (9), the Minister may give a certificate certifying that such trading operations of a company as are specified in the certificate are, with effect from a date specified in the certificate, relevant trading operations for the purpose of this section.’.”,
|
|
| |
and
|
|
| |
(c) in section 734(1)(c), by the substitution of the following subparagraphs for subparagraphs (i) and (ii):
|
|
| |
“(i) in section 445 the following subsection were substituted for subsection (2) of that section:
|
|
| |
‘(2) Subject to subsections (7) and (8), the Minister may give a certificate certifying that such trading operations of a qualified company as are specified in the certificate are, with effect from a date specified in the certificate, relevant trading operations for the purpose of this section.’,
|
|
| |
and
|
|
| |
(ii) in section 446 the following subsection were substituted for subsection (2) of that section:
|
|
| |
‘(2) Subject to subsections (7) and (9), the Minister may give a certificate certifying that such trading operations of a company as are specified in the certificate are, with effect from a date specified in the certificate, relevant trading operations for the purpose of this section.’.”.
|
