No 39 of 1997, Section 706, Link Report

Links from Section 706
Act	Linked to	Context
1969	1969	“life assurance fund” and “industrial assurance fund” have the same meanings respectively as in the Insurance Acts, 1909 to 1969, and “life assurance fund”, in relation to industrial assurance business, means the industrial assurance fund;
Insurance Act, 1936	index.html	“actuary” has the same meaning as in section 3 of the Insurance Act, 1936;
Insurance Act, 1936	index.html	(a) an assurance company within the meaning of section 3 of the Insurance Act 1936, or
Insurance Act, 1936	index.html	“life business” includes “life assurance business” and “industrial assurance business”, which have the same meanings respectively as in section 3 of the Insurance Act, 1936, and where a company carries on both businesses may mean either;
Insurance Act, 1936	index.html	“periodical return”, in relation to an assurance company, means a return deposited with the Minister for Enterprise, Trade and Employment under the Assurance Companies Act, 1909, and the Insurance Act, 1936;
Insurance Act, 1936	index.html	“policy” and “premium” have the same meanings respectively as in section 3 of the Insurance Act, 1936;
Insurance Act, 1936	index.html	“valuation period” means the period in respect of which an actuarial report is made under section 5 of the Assurance Companies Act, 1909, as extended by section 55 of the Insurance Act, 1936.
Insurance Act, 1936	sec0003.html	“actuary” has the same meaning as in section 3 of the Insurance Act, 1936;
Insurance Act, 1936	sec0003.html	(a) an assurance company within the meaning of section 3 of the Insurance Act 1936, or
Insurance Act, 1936	sec0003.html	“life business” includes “life assurance business” and “industrial assurance business”, which have the same meanings respectively as in section 3 of the Insurance Act, 1936, and where a company carries on both businesses may mean either;
Insurance Act, 1936	sec0003.html	“policy” and “premium” have the same meanings respectively as in section 3 of the Insurance Act, 1936;
Insurance Act, 1936	sec0055.html	“valuation period” means the period in respect of which an actuarial report is made under section 5 of the Assurance Companies Act, 1909, as extended by section 55 of the Insurance Act, 1936.
S.I. No. 360 of 1994	0360.html	(i) within the meaning of the European Communities (Life Assurance) Framework Regulations 1994 (S.I. No. 360 of 1994), or
S.I. No. 485 of 2015	0485.html	(ii) under the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015), in respect of insurance of a class listed in Schedule 2 to those Regulations;
Taxes Consolidation Act, 1997	sec0548.html	“market value”’ shall be construed in accordance with section 548;
Taxes Consolidation Act, 1997	sec0707.html	(b) For the purposes of the Corporation Tax Acts, any deduction from the profits of an assurance company, being profits of more than one class of life assurance business referred to in section 707(2), shall be treated as reducing the amount of the profits of each such class of business by an amount which bears the same proportion to the amount of the deduction as the amount of the profits of that class of business, before any deduction, bears to the amount of the profits of the company brought into charge to corporation tax.
Taxes Consolidation Act, 1997	sec0718.html	(a) is not pension business, or the liability of the company in respect of which is not taken into account in determining the foreign life assurance fund (within the meaning of section 718(1)) of the company, and
Taxes Consolidation Act, 1997	sec0723.html	“special investment business”, “special investment fund” and “special investment policy” have the meanings respectively assigned to them by section 723;
Taxes Consolidation Act, 1997	sec0770.html	(b) any contract (including a contract of assurance) entered into for the purposes of, and made with the persons having the management of, an exempt approved scheme (within the meaning of Chapter 1 of Part 30), being a contract so framed that the liabilities undertaken by the assurance company under the contract correspond with liabilities against which the contract is intended to secure the scheme;
Taxes Consolidation Act, 1997	sec0770.html	(b) any contract (including a contract of assurance) entered into for the purposes of, and made with the persons having the management of, an exempt approved scheme (within the meaning of Chapter 1 of Part 30), being a contract so framed that the liabilities undertaken by the assurance company under the contract correspond with liabilities against which the contract is intended to secure the scheme;
Taxes Consolidation Act, 1997	sec0770.html	(d) (i) any PRSA contract (within the meaning of Chapter 2A of Part 30), and
Taxes Consolidation Act, 1997	sec0770.html	(e)(i) any PEPP contract (within the meaning of Chapter 2D of Part 30), and
Taxes Consolidation Act, 1997	sec0783.html	(a) any contract with ~~an individual who is~~ an individual who, at the time the contract is made, is, or but for an insufficiency of profits or gains would be, chargeable to income tax in respect of relevant earnings (within the meaning of section 783) from a trade, profession, office or employment carried on or held by him or her, being a contract approved by the Revenue Commissioners under section 784 or 785 or any contract under which there is payable an annuity in relation to which section 786(3) applies;
Taxes Consolidation Act, 1997	sec0784.html	(a) any contract with ~~an individual who is~~ an individual who, at the time the contract is made, is, or but for an insufficiency of profits or gains would be, chargeable to income tax in respect of relevant earnings (within the meaning of section 783) from a trade, profession, office or employment carried on or held by him or her, being a contract approved by the Revenue Commissioners under section 784 or 785 or any contract under which there is payable an annuity in relation to which section 786(3) applies;
Taxes Consolidation Act, 1997	sec0784.html	(c) any contract with the trustees or other persons having the management of a scheme approved under section 784 or 785 or under both of those sections, being a contract which—
Taxes Consolidation Act, 1997	sec0785.html	(a) any contract with ~~an individual who is~~ an individual who, at the time the contract is made, is, or but for an insufficiency of profits or gains would be, chargeable to income tax in respect of relevant earnings (within the meaning of section 783) from a trade, profession, office or employment carried on or held by him or her, being a contract approved by the Revenue Commissioners under section 784 or 785 or any contract under which there is payable an annuity in relation to which section 786(3) applies;
Taxes Consolidation Act, 1997	sec0785.html	(c) any contract with the trustees or other persons having the management of a scheme approved under section 784 or 785 or under both of those sections, being a contract which—
Taxes Consolidation Act, 1997	sec0786.html	(a) any contract with ~~an individual who is~~ an individual who, at the time the contract is made, is, or but for an insufficiency of profits or gains would be, chargeable to income tax in respect of relevant earnings (within the meaning of section 783) from a trade, profession, office or employment carried on or held by him or her, being a contract approved by the Revenue Commissioners under section 784 or 785 or any contract under which there is payable an annuity in relation to which section 786(3) applies;
Links to Section 706 (from within TaxSource Total)
Act	Linked from	Context
Capital Acquisitions Tax Consolidation Act, 2003	sec0074.html	“assurance company” has the meaning assigned to it by section 706 of the Taxes Consolidation Act 1997;
Stamp Duty Consolidation Act, 1999	sec0124B.html	“assessable amount”, in relation to a quarter, means the gross amount received by an insurer by means of premiums in that quarter for policies of life insurance referred to in classes I, II, III, IV, V and VI of Annex I to the Directive to the extent that the risks to which those policies of life insurance relate are located in the State (being risks deemed to be located in the State by virtue of section 61) but excluding amounts received in respect of pension business which shall be construed in accordance with subsections (2) and (3) of section 706 of the Taxes Consolidation Act 1997 and excluding amounts received in the course of or by means of reinsurance;
Stamp Duty Consolidation Act, 1999	sec0125B.html	(a) any contract of a type described in section 706(3) of the Act of 1997, and
Stamp Duty Consolidation Act, 1999	sec0125B.html	“pension fund”, in relation to an insurer, shall be construed in accordance with subsection (2) of section 706 of the Act of 1997 and as if the business referred to in paragraph (a) of that subsection includes policies of assurance referred to in paragraph (b) of the definition of “contract of assurance”;
Taxes Consolidation Act, 1997	sched2B.html	(d) declares that, at the time when the declaration is made, the person entitled to the units is a company carrying on life business within the meaning of section 706,
Taxes Consolidation Act, 1997	sec0025A.html	(12) This section shall not apply to so much of the trade of an overseas life assurance company (within the meaning of section 706) as is life business (within the meaning aforesaid) that is not new basis business (within the meaning of section 730A).
Taxes Consolidation Act, 1997	sec0029.html	(d) assets situated outside the State of an overseas life assurance company (within the meaning of section 706(1)), being assets which were held in connection with the life business (within the meaning of section 706(1)) carried on by the company, which at or before the time the chargeable gains accrued were used or held by or for the purposes of that company’s branch or agency in the State.
Taxes Consolidation Act, 1997	sec0029.html	(d) assets situated outside the State of an overseas life assurance company (within the meaning of section 706(1)), being assets which were held in connection with the life business (within the meaning of section 706(1)) carried on by the company, which at or before the time the chargeable gains accrued were used or held by or for the purposes of that company’s branch or agency in the State.
Taxes Consolidation Act, 1997	sec0396.html	(b) Where expenses of management of an assurance company (within the meaning of section 706) are deductible under section 83 from the profits of the accounting period in which they were incurred, or of any accounting period subsequent to that period, those expenses shall not be taken into account in computing a loss incurred in a trade of the company.
Taxes Consolidation Act, 1997	sec0396B.html	(b) where the company carries on a life business (within the meaning of section 706~~of the Principal Act~~), any corporation tax which would be attributable to policyholders’ profits;
Taxes Consolidation Act, 1997	sec0420.html	(b) so as to reduce the profits of a claimant company which carries on life business (within the meaning of section 706) by an amount greater than the amount of such profits (before a set off under this subsection) computed in accordance with Case I of Schedule D and section 710(1).
Taxes Consolidation Act, 1997	sec0420.html	(b) For the purposes of this section “life business” shall be construed in accordance with section 706(1).
Taxes Consolidation Act, 1997	sec0420A.html	(ii) so as to reduce the profits of a claimant company which carries on life business (within the meaning of section 706) by an amount greater than the amount of such profits (before a set off under this subsection) computed in accordance with Case 1 of Schedule D and section 710(1).
Taxes Consolidation Act, 1997	sec0420B.html	(b) where the company carries on a life business (within the meaning of section 706~~of the Principal Act~~), any corporation tax which would be attributable to policyholders’ profits;
Taxes Consolidation Act, 1997	sec0487.html	(II) a company which is an assurance company within the meaning of section 706 shall not be a member of a group,
Taxes Consolidation Act, 1997	sec0541A.html	“assurance company” has the meaning assigned to it in section 706;
Taxes Consolidation Act, 1997	sec0644C.html	(ii) where the company carries on a life business (within the meaning of section 706), any corporation tax which would be attributable to policyholders’ profits;
Taxes Consolidation Act, 1997	sec0644C.html	(ii) so as to reduce the profits of a claimant company which carries on life business (within the meaning of section 706) by an amount greater than the amount of such profits (before a set off under this subsection) computed in accordance with Case I of Schedule D and section 710(1).
Taxes Consolidation Act, 1997	sec0739D.html	(b) is a company carrying on life business within the meaning of section 706, and which company has made a declaration to the investment undertaking in accordance with paragraph 3 of Schedule 2B,
Taxes Consolidation Act, 1997	sec0739K.html	(c)a company carrying on life business (within the meaning of section 706),
Taxes Consolidation Act, 1997	sec0784A.html	(5) For the purposes of this section, Chapter 1 of Part 26 shall apply as if references in that Chapter to pension business were references to moneys held in an approved retirement fund.
Taxes Consolidation Act, 1997	sec0784A.html	(5) For the purposes of this section, Chapter 1 of Part 26 shall apply as if references in that Chapter to pension business were references to moneys held in an approved retirement fund.
Taxes Consolidation Act, 1997	sec0079.html	(b) This subsection shall not apply as respects any gain or loss arising to a company carrying on life business within the meaning of section 706(1), being a company which is not charged to corporation tax in respect of that business under Case I of Schedule D.
Taxes Consolidation Act, 1997	sec0845.html	(5) In the case of an overseas life assurance company (within the meaning of section 706), in computing for the purposes of section 726 the income from the investments of the life assurance fund of the company, any interest, dividends and other payments to which section 35 or 63 extends shall be included notwithstanding the exemption from tax conferred by those sections respectively.
Taxes Consolidation Act, 1997	sec0848B.html	(c) the policy is not issued in the course of annuity business or pension business, within the meaning of section 706.
Taxes Consolidation Act, 1997	sec0904C.html	“assurance company” and “life business” have, respectively, the meanings assigned to them in section 706;
Taxes Consolidation Act, 1997	sec0098A.html	(6) Where a reverse premium is received by an assurance company (within the meaning of section 706) carrying on life business (within the meaning of section 706) in respect of which it is chargeable to tax otherwise than in accordance with the rules applicable to Case I of Schedule D, the amount or value of the reverse premium shall be deducted from the amount treated as the company’s expenses of management for the chargeable period in which the reverse premium is received.
Taxes Consolidation Act, 1997	sec0098A.html	(6) Where a reverse premium is received by an assurance company (within the meaning of section 706) carrying on life business (within the meaning of section 706) in respect of which it is chargeable to tax otherwise than in accordance with the rules applicable to Case I of Schedule D, the amount or value of the reverse premium shall be deducted from the amount treated as the company’s expenses of management for the chargeable period in which the reverse premium is received.