Statutory Instruments
2012 No. 3043
Corporation Tax
The Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2012
Made
6th December 2012
Laid before the House of Commons
7th December 2012
Coming into force
1st January 2013
The Treasury make these Regulations in exercise of the powers conferred by section 17(3) and section 18(1)(h) of the Finance (No. 2) Act 2005( 1 ).
Citation, commencement and effect
1. —(1) These Regulations may be cited as the Authorised Investment Funds (Tax) (Amendment No. 3) Regulations 2012.
(2) These Regulations come into force on 1 January 2013 and the amendments made by these Regulations have effect in relation to dividend distributions made on or after that date.
(3) In this regulation “dividend distribution” has the meaning given by regulation 22(3) of the Authorised Investment Funds (Tax) Regulations 2006 ( 2 ).
Amendment of the Authorised Investment Funds (Tax) Regulations 2006
2. —(1) The Authorised Investment Funds (Tax) Regulations 2006 are amended as follows.
(2) In regulation 48 (dividend distributions) at the end of paragraph (2A) insert—
“ unless the dividend distribution is made to—
(a) an insurance company in respect of any non-BLAGAB long-term business carried on by it, or
(b) an insurance special purpose vehicle that is not an insurance company in respect of any long-term business carried on by it that does not consist wholly of PHI business.
Expressions used in paragraph (a) or (b) have the same meaning as they have in Part 2 of FA 2012 ( 3 ) . ”
(3) In the table in Part 1 of the Schedule (abbreviations of Acts) insert at the appropriate place—
| “ FA 2012 | The Finance Act 2012 (c. 14) ” |
Desmond Swayne
Anne Milton
Two of the Lords Commissioners of Her Majesty’s Treasury
6th December 2012
S.I. 2006/964 ; relevant amending instruments are S.I. 2008/3159 , S.I. 2009/2036 , S.I. 2010/294 , S.I. 2010/1642 , S.I. 2012/519 .