ERSM20130 - Employment-related securities and options: insurance contracts

Rights under contracts of insurance other than excluded contracts of insurance are included in the definition of securities from 2 December 2004 (see ITEPA03/S420 (1)(aa), (1A) and (1B)).

바카라 사이트śContract of insurance바카라 사이트ť, 바카라 사이트ścontract of long-term insurance바카라 사이트ť, and 바카라 사이트ścontract of general insurance바카라 사이트ť have the same meaning as in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.

An excluded contract of insurance is a contract:

  1. for an annuity which is (or will be) pension income,
  2. of long-term insurance, other than an annuity contract, which does not have a surrender value and is not capable of acquiring one (whether on conversion or in any other circumstances), or
  3. of general insurance other than one which falls, in accordance with generally accepted accounting practice, to be accounted for as a financial asset or liability.