B: Special schemes and exemptions

By derogation from

Article 991

are exempt from the special tax:

1° Group insurance and collective operations underwritten by a company or group of companies for the benefit of their employees or by a representative professional group of companies for the benefit of their employees or by a representative organisation of a self-employed profession or of public authority employees for the benefit of its members or as part of collective retirement schemes organised in accordance with the provisions of articles

L. 141-1

and

L. 441-1

of the Insurance Code and managed jointly by policyholders and insurers, or

articles L. 932-1

,

L. 932-14

and

L. 932-24

du code de la sécurité sociale or

L. 221-2

and

L. 222-1

du code de la mutualité, of which at least 80% of the total premium or contribution is allocated to cover for the duration of human life, disability, incapacity for work or death due to accident, excluding reimbursement of medical, surgical, pharmaceutical or dental expenses. In the case of insurance taken out by a company or on its behalf, the exemption only applies to insurance constituting a means of complying with a provision laid down by a collective agreement or company agreement or resulting from the employment contract of all or a significant number of the company's employees.

2° (Provision no longer applicable).

3° An insurance agreement taken out by a company in order to guarantee members of its salaried staff an end-of-career indemnity on their retirement or an indemnity on cessation of activity paid under article 2 of law no. 96-126 of 21 February 1996 creating a joint intervention fund in favour of employment on condition:

a) That the company is unable to dispose of the acquired value of the contract for any other use;

b) That the insurance company or firm undertakes to pay the employing company only the benefits due to employees under the end-of-career indemnity. Where the company has been the subject of safeguard or receivership proceedings, the insurance company may, in the event of a sale or compulsory liquidation, be authorised by the court that opened the proceedings to pay the benefits to the company's employees and thus clear their claims.