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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 January 2003 - onwards
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730B. Taxation of policyholders.

(1) In this Chapter "return" means a return under section 730G.

(2) Subject to subsection (3), this Chapter applies for the purpose of imposing certain charges to tax in respect of a policy (in this Chapter referred to as a 'life policy') which is -

(a) a policy of assurance on the life of any person, or

(b) a policy in respect of sinking fund or capital redemption business,

where the life policy is new basis business of the assurance company which commenced the life policy.

(3) This Chapter does not apply to a life policy which relates to pension business, general annuity business or permanent health insurance business, of an assurance company.

(4) For the purposes of this Chapter -

(a) where a policyholder is a person entrusted to pay all premiums (in this subsection referred to as 'group premiums') in respect of a life policy (in this subsection referred to as a 'group policy'), out of money under the control or subject to the order of any Court, this Chapter shall apply as if the g

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