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OC 2B: General rule for life insurer's policyholder base
or “This rule about life insurance companies and policyholders no longer exists”
You could also call this:

“FDPA companies no longer exist: Option removed in 2017”

This law section has been removed. You can no longer choose to become an FDPA company. The government took this option away on 1 April 2017. FDPA stands for ‘foreign dividend payment account’. If you want to know more about why this changed, you might need to look at other parts of the tax law.

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Next up: OC 4: When company chooses to stop being FDPA company

or “A company can no longer choose to stop being an FDPA company”
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Part O Memorandum accounts
Foreign dividend payment accounts (FDPA)

OC 3Choosing to become FDPA company (Repealed)

    Notes
    • Section OC 3: repealed, on , by section 216 of the Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Act 2017 (2017 No 14).