י
(v) any appropriations of profits or trans- fers to reserve charged against the fund during the period in respect of which the relevant actuarial report is made, other than appro- priations or transfers to policy holders in their capacity as such;
and by deducting therefrom-
(vi) any surplus disclosed by a previous Actuarial report which has been retained in the life insurance fund in the relevant actuarial report;
(vii) any transfer or appropriation to policy holders in their capacity as such, effected during the period in respect of which the relevant actuarial report is made where such transfer or appropriation has not been charged against the life insurance fund in such report;
(viii) any outgoing or expense not charged against the life insurance fund during the period in respect of which the relevant actuarial report is made which is such that it would be deducted in ascertaining assessable profits under the provisions of section 16: (ix) any receipt of a capital nature, transfer from réserve, credited to the life insurance fund during the period in respect of which the relevant actuarial report is made.
or
(s) Notwithstanding anything contained in sub- section (4) the adjusted surplus of a corporation which transacts life insurance business both within the Colony and elsewhere shall be the adjusted surplus ascertained in accordance with the provisions of the said subsection (4) less that portion of such adjusted surplus as is not deemed under the provisions of subsection (6) to be profits arising in or derived from the Colony,
(6) Where a corporation transacts life insurance business both within the Colony and elsewhere, the portion of the adjusted surplus ascertained in accord- ance with the provisions of subsection (4) which shall
be deemed to be profits arising in or derived from the Colony is the amount which bears the same proportion to the adjusted surplus so ascertained as the aggregate of the premiums from life insurance business in the Colony for the period of the relevant actuarial report bears to the aggregate of the premiums from the whole of the corporations life insurance business for that period.
(7) Any adjusted surplus ascertained in accord- ance with the foregoing provisions shall be deemed to arise during the basis periods which comprise the period in respect of which the relevant actuarial report is made in the proportion which the aggregule of the premiums from life insurance business in the Colony in each such basis period bears to the aggregate of such premiums for the total period in respect of which the relevant actuarial report is made.
(8) (a) Where the making of the adjustments required by subsection (4) results in a deficit, such deficit shall be deemed to be the loss sustained by the corporation during the period in respect of which the relevant actuarial report is made,
(b) In ascertaining for the purposes of section tg what part of such loss so calculated is attributable to activities in the Colony the provisions of subsections (5) and (6) shall apply mutalis mutandis.
(c) Any such loss attributable to activities in the Colony shall be deemed to have been sustained during the years of assessment which comprise the period in respect of which the relevant actuarial report is made in the proportion which the aggregate of the premiums from life insurance business in the Colony in each such year of assessment bears to the aggregate of such premiums for the total period in respect of which the relevant actuarial report is made.