Citation, commencement and effect

1. These Regulations may be cited as the Overseas Life Insurance Companies (Amendment) Regulations 2005, shall come into force on 31 ^st December 2005 and shall have effect in relation to periods of account (whenever beginning) which end on or after that day.

Amendment of the Overseas Life Insurance Companies Regulations 2004

2. The Overseas Life Insurance Companies Regulations 2004( 2 ) are amended as follows.

3. In regulation 3(4)(h)(viii), in the sub-paragraph (10) treated as inserted into paragraph 6 of Schedule 19AC to the Income and Corporation Taxes Act 1988( 3 )—

(a) after the words “subsection, in the case of” insert “— (a)”; and

(b) after “Financial Services and Markets Act 2000,” insert—

“ (b) a Treaty firm within the meaning of paragraph 1 of Schedule 4 to that Act; ” .

4. —(1) Amend regulation 6 as follows.

(2) In paragraph (6), in the paragraph 1AA treated as inserted in Schedule 8A to the Finance Act 1989( 4 )—

(a) in sub-paragraph (2) after “EEA firm” insert “or a Treaty firm”; and

(b) for sub-paragraph (3) substitute—

“ (3) In sub-paragraph (2)—

“EEA firm” means a firm of the kind mentioned in paragraph 5(d) of Schedule 3 to the Financial Services and Markets Act 2000; and

“Treaty firm” has the meaning given by paragraph 1 of Schedule 4 to that Act. ” ;

(3) In paragraph (7)(b), in the sub-paragraph (1A) treated as inserted into paragraph 1B of that Schedule—

(a) after “which is” insert “—(a)”; and

(b) after “Financial Services and Markets Act 2000,” insert—

“ or

(b) a Treaty firm within the meaning of paragraph 1 of Schedule 4 to that Act, ” .

(4) In paragraph (10)(g), in the sub-paragraph (6A) treated as inserted into paragraph 2 of that Schedule—

(a) after “Where the company is” insert “—(a)”; and

(b) after “Financial Services and Markets Act 2000,” insert—

“ or

(b) a Treaty firm within the meaning of paragraph 1 of Schedule 4 to that Act, ” .