Commentary on Sections Example 3 Ne = £5,000; Da = 183; De = 183; Smg = 0 Section 349: Meaning of “qualifying insurance contract”
1506.This section defines “qualifying insurance contract”. It derives from section 201AA(3)(a) to (d) and (4) of ICTA.
1507.Subsections (2) to (5) state the conditions that have to be met for an insurance contract to come within section 346(1).