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Part V.
General.
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Definitions, construction, and short title.
9 Edw. 7. c. 49.
39 & 40 Vict. c. 36.
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28.—(1) In this Act, unless the context otherwise requires,—
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The expression “assurance company” means any persons or bodies of persons, whether corporate or unincorporate, to which the Assurance Companies Act, 1909, applies;
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The expression “life assurance business” includes the business of granting annuities;
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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 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;
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The 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 United 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;
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The expression “Special Commissioners” means the commissioners for the special purposes of the Income Tax Acts;
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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.
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(2) Part II of this Act, so far as it relates to duties of Customs, shall be construed together with the Customs (Consolidation) Act, 1873, 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 the duties of Excise and the management of those duties.
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Part II. of this Act shall be construed together with the Income Tax Acts.
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(3) This Act may be cited as the Finance Act, 1915.
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