Schedule 2: Transitionals and savings etc. Overview Paragraph 125: Policy holders becoming permanently UK resident after 17th March 1998
3663.This paragraph performs the same function as the preceding paragraph, with the difference that it deals with policyholders who intend to become permanently UK resident or to stay at least two years. It is based on regulation 3 of PPB(T)R.
3664.The effect of that difference of intention shows up in sub-paragraph (2)(b). The terminal date by which the policy must be varied if it is to meet condition C of the second selection condition is reckoned from the policy year beginning after the relevant date of arrival in the United Kingdom, rather than that beginning after the commencement of UK residence. The holder will therefore have at least 12 months from arrival, perhaps nearly two years, in which to effect the necessary variation.
3665.Sub-paragraph (3) has the same effect as the equivalent sub-paragraph in paragraph 124 (policy holders becoming UK resident after 17th March 1998), but with effect over a longer period.
3666.See Change 157 in Annex 1.