As of 6 April 1997 this text has repealed

(1) Section 20A (inserted by section 24 of the Finance Act, 1993) of the Capital Gains Tax Act, 1975, is hereby amended -

(a) in subsection (1), by the substitution for paragraph (a) of the following paragraph:

"(a)

(i) Subsection (2) applies to any policy of assurance or contract for a deferred annuity on the life of any person which is a policy issued or a contract made, as the case may be, on or after the 20th day of May, 1993 -

(I) otherwise than by an assurance company which is a relevant company, or

(II) being a policy or contract which is an excluded policy issued or made, as the case may be, by a relevant company to which subsection (1A) of section 35 of the Corporation Tax Act, 1976, applies.

(ii) In this paragraph and in subsection (3) -

‘assurance company’ and ‘life assurance fund’ have the meanings assigned to them, respectively, in section 50 (2) of the Corporation Tax Act, 1976;

‘an excluded policy’ means a policy of assurance or contract for a deferred annuity on the life of any person where the policy is issued to or the contract is made with, as the case may be, a person who did not continuously reside outside the State throughout the period of six months commencing on the date of issue or the date of contract, as the case may be;