Special provision is made to enable contracts of life insurance entered into and settled before 22 March 2006 to continue to have the full benefits of the accumulation and maintenance (A&M) trust regime notwithstanding that premiums are paid after 21 March 2006. The relief applies where:
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(a)ÌýÌýÌýÌý a settlement commenced before 22 March 20061
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(b)ÌýÌýÌýÌý a contract of life insurance was entered into before 22 March 20062
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(c)ÌýÌýÌýÌý a premium payable under the contract is paid, or an allowed variation is made to the contract, at a particular time on or after 22 March 20063. An 'allowed variation', in relation to a contract, means
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