Commentary on Sections Structure of Chapters Overview Section 490: Last payment under guaranteed income bonds etc. treated as total surrender
1937.This section supplements section 484. It is based on section 79 of FA 1997.
1938.Section 504 deals with the treatment of payments under guaranteed income bonds prior to the last payment. Subsection (7) of that section defines the term “guaranteed income bond contract”. See the commentary on that section for further background.