Section 387 | Treatment of deficit on basic life assurance and general annuity business: introduction

(1)Sections 388 to 391 apply for the purposes of the I - E rules instead of Chapters 16 and 16A (non-trading deficits) if a company has a non-trading deficit from its loan relationships for BLAGAB for any accounting period.^F1F2

(2)In those sections “the deficit” and “the deficit period” mean that deficit and that period respectively.