Finance Act, 1998

Amendment of section 713 (investment income reserved for policyholders) of Principal Act.

57.—(1) Section 713 (3) of the Principal Act is hereby amended—

(a) by the substitution of “specified in section 21(1)” for “specified in section 21(1)(b)”, and

(b) by the substitution of “in respect of the part specified in subsection (6) of the unrelieved profits” for “in respect of the part specified in subsection (5) of the unrelieved profits”.

(2) This section shall apply as on and from the 6th day of April, 1997.