Section 560 — Corporation Tax Act 2009: Introduction to Chapter

Introduction to Chapter 560 1 This Chapter makes provision about investment life insurance contracts to which relevant companies are party.

2 See, in particular—

a sections 562 to 565 (which make provision about treating the contracts as creditor relationships in relation to those companies for the purposes of Part 5),

and b sections 566 to 569 (which make provision for cases where the relevant company was a party to the contract before the beginning of the company's first accounting period beginning on or after 1 April 2008).

3 In this Chapter “ relevant company ” means a company which is not a life insurance company.

4 In subsection (3) “ life insurance company ” means—

a an insurance company (as defined in section 65 of FA 2012 ) which carries on long-term business (as defined in section 63 of that Act ), or b a friendly society which would be such an insurance company if subsection (3)(a) were omitted from section 65 of that Act.

5 For the meaning of “investment life insurance contract”, see section 561.