Section 471 | Creditors who are insurance companies carrying on BLAGAB

(1)This section sets out the conditions referred to section 468(1)(b)).

(2)Condition A is that the creditor is an insurance company carrying on basic life assurance and general annuity business in the accounting period.

(3)Condition B is that the asset representing the creditor relationship is matched for that period to a BLAGAB liability.

(4)Condition C is that conditions C, D and E in section 469 are met in relation to that asset.