Commentary

D7.603 BLAGAB or eligible PHI business—meaning

Corporate tax
Corporate tax | Commentary

D7.603 BLAGAB or eligible PHI business—meaning

Corporate tax | Commentary

D7.603 BLAGAB or eligible PHI business—meaning

BLAGAB or eligible PHI business1 includes the following classes of long-term business:

  1.  

    (a)     BLAGAB;

  2.  

    (b)     any PHI business written before 1 September 1996 or one made on or after that date but only if the business includes elements of life and annuity, marriage and birth, or linked long term business.

However, a contract made before 1 September 1996 which effects a policy affording provision for injury, sickness or other infirmity can form part of 'BLAGAB or eligible PHI business' only if the policy also affords assurance for a gross sum independent of injury, sickness

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