(1) Schedule 7A to the Finance Act 1994 [Inserted by S.I. 1994/1698, article 5; paragraph 15 repealed in part by S.I. 1996/2995, article 2.] (insurance premium tax) is amended as follows.
(2) In paragraph 2(1) (contracts constituting long term business) for the words from "if it is one" to the end of that sub-paragraph substitute "if it is exclusively a contract of long-term insurance.".
(3) For paragraph 2(2) substitute -
"(2) In deciding whether a contract is exclusively a contract of long-term insurance, as is mentioned in sub-paragraph (1) above, where -
(a) the contract includes cover for risks relating to accident or sickness;
(b) the contract contains related and subsidiary provisions such that it might also be regarded as a contract of general insurance, but is treated as a contract of longterm insurance for the purposes of any relevant order made under section 22 of the Financial Services and Markets Act 2000; and
(c) the contract was not entered into after 30th November 1993,
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