(1) As respects the year of assessment 2001 and subsequent years of assessment, section 470 of the Principal Act is amended -
(a) in subsection (1) -
(i) by the substitution of the following for the definition of "relevant contract":
"'relevant contract', in relation to an individual, means a contract of insurance which provides specifically, whether in conjunction with other benefits or not, for the reimbursement or discharge, in whole or in part, of actual health expenses (within the meaning of section 469) of -
(a) the individual,
(b) the spouse of the individual, or
(c) the children or other dependants of the individual or of the spouse of the individual;",
and
(ii) by the insertion after the definition of "relevant contract" of the following:
"'relievable amount', in relation to a payment to an authorised insurer under a relevant contract, means -
(a) where the payment covers no benefits other than such reimbursement or discharge as is referred to in the definition of 'relevant co
…