Section 110A Certain policies of insurance

subscription or 30 day access with no obligation

Amendments

Section 110A inserted by Finance Act 2001 section 212 in relation to instruments executed on or after 1 January 2001.

(1) This section shall apply to a policy of insurance, being insurance of a class specified in Part A of Annex I to the European Communities (Life Assurance) Framework Regulations, 1994 (S.I. No. 360 of 1994), which-

(a) provides for periodic payments to an individual in the event of loss or diminution of income in consequence of ill health, or

(b) provides for the payment of an amount or amounts to an individual in consequence of ill health, disability, accident or hospitalisation.

(2) Stamp duty shall not be chargeable under or by reference to the Heading "POLICY OF INSURANCE other than Life Insurance where the risk to which the policy relates is located in the State." in Schedule 1 on any policy of insurance to which this section applies.

What exemption in respect of permanent health or critical illness insurance does this section provide?

(1)-(2) Stamp duty does not apply to policies in respect of permanent health insurance, or critical illness insurance, issued by the life assurance industry on or after 1 January 2001.