(33)Nothing in this Directive prevents a composite undertaking from dividing itself into two undertakings, one active in the field of life assurance, the other in non-life insurance. In order to allow such division to take place under the best possible conditions, it is desirable to permit Member States, in accordance with Community rules of competition law, to provide for appropriate tax arrangements, in particular with regard to the capital gains such division could entail.
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New version applies from 01/05/2004 — introduced by Council Directive 2004/66/EC.
146 provisions change.
Later versions: 13/04/2005, 10/12/2005, 01/01/2007, 21/09/2007, 20/03/2008, 01/07/2013, 01/01/2016.
Recital 33 changes in this version: compare with the current text.