Part surrenders – and assignments: periodic calculations and excess events (ss 498-509)

Contents

Section 498 – Requirement for periodic calculations in part surrender or assignment cases [ITTOIA 2005 s 498] Section commentary
Section 499 – Meaning of “insurance year” and “final insurance year” [ITTOIA 2005 s 499] Section commentary
Section 500 – Events treated as part surrenders [ITTOIA 2005 s 500] Section commentary
Section 501 – Part surrenders: loans [ITTOIA 2005 s 501] Section commentary
Section 502 – Exception from section 501 for loans to buy life annuities [ITTOIA 2005 s 502] Section commentary
Section 503 – Exception from section 501 for certain loans under qualifying policies [ITTOIA 2005 s 503] Section commentary
Section 504 – Part surrenders: payments under guaranteed income bonds etc. [ITTOIA 2005 s 504] Section commentary
Section 505 – Assignments etc. involving co-ownership [ITTOIA 2005 s 505] Section commentary
Section 506 – Assignments occurring when there is a co-ownership transaction [ITTOIA 2005 s 506] Section commentary
Section 507 – Method for making periodic calculations under section 498 [ITTOIA 2005 s 507] Section commentary
Section 507A – Recalculating gains under section 507 [ITTOIA 2005 s 507A] Section commentary
Section 508 – The value of rights partially surrendered or assigned [ITTOIA 2005 s 508] Section commentary
Section 509 – Chargeable events in certain cases where periodic calculations show gains [ITTOIA 2005 s 509] Section commentary

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