(1) For the purposes of this section and subject to subsections (2) to (4), the acquisition expenses for any period of an assurance company carrying on life assurance business shall be such of the following expenses of management, including commissions (in whatever manner described) and excluding any payment of rent in respect of which a deduction is to be made twice by virtue of section 324, 333 or 345 in the computation of profits or gains, as are for that period attributable to the company's life assurance business (excluding pension business and general annuity business) -
(a) expenses of management which are disbursed solely for the purpose of the acquisition of business, and
(b) so much of any other expenses of management which are disbursed partly for the purpose of the acquisition of business and partly for other purposes as are properly attributable to the acquisition of business, reduced by -
(i) any repayment or refund receivable in the period of the whole or part of managem
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