51.Chapter 8 deals with changes in the allocation of assets and share pooling rules for life insurance business.
52.Section 116 deems a disposal and reacquisition at fair value when an asset moves between the categories set out in the section. This rule does not apply where none of the profits of a company are taxed on an I - E basis.
53.Section 117 modifies the rules in section 116 for overseas life insurance companies.
54.Section 118 sets out the rules where there is a transfer of business and as a consequence assets transferred move from one category to another.
55.Sections 119 and 120 adapt the capital gains share pooling rules for life insurance companies, including overseas life insurance companies.
Introduction Details of the Sections Part 2 Chapter 8