
1 

(1) These Regulations may be cited as the Insurance Companies (Taxation of Reinsurance Business) (Amendment No. 3) Regulations 2003 and shall come into force on 28th October 2003 immediately after the Insurance Companies (Taxation of Reinsurance Business) (Amendment No. 2) Regulations 2003.
(2) These Regulations have effect in relation to periods of account beginning on or after 1st January 2001.
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(1) Regulation 7 of the Insurance Companies (Taxation of Reinsurance Business) Regulations 1995 is amended as follows.
(2) In paragraph (7A) for the formula in sub-paragraph (c) substitute—“1+{0.5×X1X2}”.
Ann ChantHelen Ghosh
Two of the Commissioners of Inland Revenue
13th October 2003