Finance Act 2015

Amendment of section 470 of Principal Act (relief for insurance against expenses of illness)

8. (1) Section 470 of the Principal Act is amended in subsection (1) by substituting the following for the definition of “child”:

“ ‘child’ means an individual under the age of 21 years in respect of whom the payment under a relevant contract has been reduced in accordance with paragraph (a)(ii) or (b)(i)(I) of section 7 (5) of the Health Insurance Act 1994 ;”.

(2) This section shall apply in respect of relevant contracts (within the meaning of section 470 of the Principal Act) entered into or renewed on or after 1 May 2015.