The Insurance Companies (Pension Business)(Transitional Provisions) (Amendment) Regulations 1996
These Regulations amend the Insurance Companies (Pensions Business) (Transitional Provisions) Regulations 1992 (S.I. 1992/2326) (“the principal Regulations”) which were made under powers contained in Schedule 19AB to the Income and Corporation Taxes Act 1988 (“Schedule 19AB” and “the 1988 Act” respectively). Schedule 19AB provides that insurance companies carrying on pension business shall be entitled to provisional repayments of tax on pension business investment income.