§ (1) In this Act, unless the context otherwise requires—
- The expression "assurance company" means any persons or bodies of persons whether corporate or un incorporate to which the Assurance Companies Act, 1909; applies;
- The expression "life assurance business" includes the business of granting annuities;
- The expression "annuity fund" means where an annuity fund is not kept separately from the life assurance fund of an assurance company, such part of the life assurance fund as represents money paid in consideration of the grant of annuities;
- The expression "Special Commissioners" means the Commissioners for the special purposes of the Income Tax Acts;
- The expression "Income Tax Acts" means the Income Tax Acts, 1842 to 1853, and any other enactments relating to Income Tax, and, if the context so requires, includes Part II. of this Act.
§ (2) Part I. of this Act, so far as it relates to duties of Customs, shall be construed together with the Customs (Consolidation) Act, 1876, and any enactments amending that Act, and so far as it relates to duties of Excise shall be construed together with the Acts which relate to theduties of Excise and the management of those duties.
§ Part II. of this Act shall be construed together with the Income Tax Acts.
§ (3) This Act may be cited as the Finance Act, 1915.
§ Amendment made: In Sub-section (1), paragraph 3, leave out the words "money paid in consideration of the grant of annuities," and insert instead thereof the words,
§ "the liability of the company under its annuity contracts as stated in its periodical returns to the Board of Trade under the Assurance Companies Act, 1909.
§ That expression 'foreign life assurance fund' means any fund representing the amount of the liability of an assurance company in respect of its life assurance business with policy-holders and annuitants residing out of the United Kingdom whose proposals were made to or whose annuity contracts were granted by the company at or through a branch or agency outside the limited Kingdom, and, where such a fund is not kept separately from the life assurance fund of the company, means such part of the life assurance fund as represents the liability of the company under such policies and annuity contracts; such liability being estimated in the same manner as it is estimated for the purposes of the periodical returns of the company to the Board of Trade under the Assurance Companies Act, 1909."
§ Clause, as amended, ordered to stand part of the Bill.
763§ Question proposed, "That the Chairman do report Progress, and ask leave to sit again."—[Mr. Walter Rea.]
§ Mr. D. MASONWhen is it intended to take the new Clauses?
§ Mr. MONTAGUThat question should be addressed to the Leader of the House.
§ Question put, and agreed to.
§ Committee report Progress; to sit again to-morrow (Thursday).
764§ The remaining Orders were read and postponed.
§ Whereupon Mr. DEPUTY-SPEAKER, pursuant to the Order of the House of the 3rd February, proposed the Question, "That this House do now adjourn."
§ Question put, and agreed to.
§ Adjourned accordingly at Twenty-one minutes after Eight o'clock.