Schedule 27 - Life polices, life annuities and capital redemption policies
Finance Bill
11:00 am
Mr Howard Flight (Arundel and South Downs, Conservative)
As I was saying, section 546A in particular is designed to align English and Scottish law when insurance policies are held by more than one person. Subsection (1)(a) of the proposed new section refers to policies held jointly or in common, but subsection (1)(b) refers only to policies held jointly. The Law Society's opinion is that some words have been missed out of paragraph (b), which should similarly say ``jointly or in common''.