Finance Act 2019

Amendment of section 124B of Principal Act (certain premiums of life assurance)

58. (1) Section 124B(1) (as amended by section 64 of the Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2019 ) of the Principal Act is amended in the definition of “insurer”—

(a) in paragraph (c), by substituting “State,” for “State, or”,

(b) in paragraph (d), by substituting “supervising such persons, or” for “supervising such persons;”, and

(c) by inserting the following paragraph after paragraph (d):

“(e) a person who is the holder of an authorisation to undertake insurance granted by the authority in Gibraltar charged by law with the duty of supervising such persons;”.

(2) Subsection (1) shall come into operation on such day as the Minister for Finance may appoint by order.