Finance Act, 2000

Amendment of section 723 (special investment policies) of Principal Act.

62.—The Principal Act is amended in section 723 by the substitution in subsection (1) for the definition of “special investment policy” of the following definition:

“ ‘special investment policy’ means a policy of life assurance issued by an assurance company to an individual on or after 1 February 1993 and before 1 January 2001, in respect of which—

(a) the conditions specified in subsection (3) are satisfied, and

(b) a declaration of the kind specified in subsection (4) has been made to the assurance company;”.