Corporation Tax Act 2010 section 269ZL

Further provision about claims under section 269ZK

Section 269ZL sets out the detailed requirements that must be met for a shock loss claim under section 269ZK to be valid, including the information that must accompany the claim and the actuarial report needed to support it.

• The claim must state the company's solvency capital requirement, shock loss threshold (with supporting calculations), and solvency loss for the relevant period.
• The company must submit regulatory return information matching the templates required under the Solvency II technical standards implementing regulation.
• A report from the company's chief actuary (or equivalent) must confirm that the submitted information and calculations comply with the relevant regulatory and statutory requirements.
• For third-country insurance undertakings, the same requirements apply as if they were UK or EU insurance undertakings, and the report should be prepared by a person with functions equivalent to a chief actuary.