http://www.legislation.gov.uk/ukpga/1982/50/part/I/1991-02-01Insurance Companies Act 1982 (repealed)An Act to consolidate the Insurance Companies Acts 1974 and 1981.1982-11-01texttext/xmlenStatute Law Database2011-05-271991-02-01 Part I Restriction on Carrying on Insurance Business Preliminary Classification.11For the purposes of this Act insurance business is divided into long term business and general business; and—long term business” means insurance business of any of the classes specified in Schedule 1 to this Act, andgeneral business” means insurance business of any of the classes specified in Part I of Schedule 2 to this Act.2For the purposes of this Act the effecting and carrying out of a contract whose principal object is within one class of insurance business, but which contains related and subsidiary provisions within another class or classes, shall be taken to constitute the carrying on of insurance business of the first-mentioned class, and no other, if subsection (3) or (4) below applies to the contract.3This subsection applies to a contract whose principal object is within any class of long term business but which contains subsidiary provisions within general business class 1 or 2 if the insurer is authorised under section 3 or 4 below to carry on long term business class I.4This subsection applies to a contract whose principal object is within one of the classes of general business but which contains subsidiary provisions within another of those classes, not being class 14 or 15 or (except as mentioned in subsection (4A) below) class 17.4ASubsection (4) applies to a contract whose principal object is within one of the classes of general business but which contains subsidiary provisions within general business class 17 if—athe principal object of the contract is the provision of assistance for persons who get into difficulties while travelling, while away from home or while away from their permanent residence, orbthose subsidiary provisions concern disputes or risks arising out of, or in connection with, the use of sea-going vessels Restriction on carrying on insurance business.21Subject to the following provisions of this section, no person shall carry on any insurance business in the United Kingdom unless authorised to do so under section 3 or 4 below.2Subsection (1) above shall not apply to insurance business (other than industrial assurance business) carried on—aby a member of Lloyd’s, orbby a body registered under the enactments relating to friendly societies; orcby a trade union or employers’ association where the insurance business carried on by the union or association is limited to the provision for its members of provident benefits or strike benefits.In this subsection “trade union" and “employers’ association" have (throughout the United Kingdom) the meanings assigned to them by section 28 of the Trade Union and Labour Relations Act 1974.3Subsection (1) above shall not apply to industrial assurance business carried on by a friendly society registered under the enactments relating to such societies.4Subsection (1) above shall not apply to general business of class 14, 15, 16 , 17 or 18 if it is carried on solely in the course of carrying on, and for the purposes of, banking business.5Subsection (1) above shall not apply to general business consisting in the effecting and carrying out, by an insurance company that carries on no other insurance business, of contracts of such descriptions as may be prescribed, being contracts under which the benefits provided by the insurer are exclusively or primarily benefits in kind. Authorised insurance companies Authorisation by Secretary of State.31The Secretary of State may authorise a body to carry on in the United Kingdom such of the classes of insurance business specified in Schedule 1 or 2 to this Act, or such parts of those classes, as may be specified in the authorisation.2An authorisation under this section may be restricted to industrial assurance business or to reinsurance business; and a body may not carry on industrial assurance business by virtue of an authorisation under this section unless the authorisation expressly extends to such business.3An authorisation under this section may identify classes or parts of classes of general business by referring to the appropriate groups specified in Part II of Schedule 2 to this Act.4On the issue to a body of an authorisation under this section, any previous authorisation of that body under this section or section 4 below shall lapse. Existing insurance companies.41A body that was, immediately before the commencement of this Act, authorised under section 3 or 4 of the Insurance Companies Act 1981 to carry on in the United Kingdom insurance business of a class specified in Schedule 1 or 2 to that Act (or a part of such a class) is authorised to carry on there insurance business of the class identified by the same number in Schedule 1 or 2 to this Act (or that part of such a class).2A body may not carry on industrial assurance business by virtue of this section unless—ait was carrying on such business immediately before 1st January 1982, orbit was immediately before the commencement of this Act authorised to carry on such business under section 3 of the Insurance Companies Act 1981. Applications for authorisation Submission of proposals <Abbreviation Expansion="et cetera" xml:lang="la">etc.</Abbreviation>51The Secretary of State shall not issue an authorisation under section 3 above unless—athe applicant has submitted to him such proposals as to the manner in which it proposes to carry on business, such financial forecasts and such other information as may be required by or in accordance with regulations under this Act, andbhe is satisfied on the basis of that and any other information received by him that the application ought to be granted.2The Secretary of State shall decide an application for an authorisation under section 3 above within six months of receiving the information referred to in subsection (1)(a) above; and if he refuses to issue the authorisation he shall inform the applicant in writing of the reasons for the refusal. Combination of long term and general business.6The Secretary of State shall not under section 3 above authorise a body to carry on both long term business and general business unless—athe long term business is restricted to reinsurance, orbthe body is at the time the authorisation is issued already lawfully carrying on in the United Kingdom both long term business and general business (in neither case restricted to reinsurance). United Kingdom applicants.71The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom unless the applicant is—aa company as defined in section 735 of the Companies Act or Article 3 of the Companies (Northern Ireland) Order 1986, orba registered society, orca body corporate established by royal charter or Act of Parliament and already authorised under section 3 or 4 above to carry on insurance business (though not to the extent proposed in the application).2The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom if it has an issued share capital any part of which was issued after the commencement of this section but is not fully paid up.3The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom if it appears to the Secretary of State that any director, controller, manager or main agent of the applicant is not a fit and proper person to hold the position held by him.4In this sectioncontroller”, in relation to the applicant, means—aa managing director of the applicant or of a body corporate of which the applicant is a subsidiary;ba chief executive of the applicant or of a body corporate, being an insurance company, of which the applicant is a subsidiary;ca person—iin accordance with whose directions or instructions the directors of the applicant or of a body corporate of which it is a subsidiary are accustomed to act, oriiwho either alone or with any associate or associates is entitled to exercise, or control the exercise of, one-third15 per cent or more of the voting power at any general meeting of the applicant or of a body corporate of which it is a subsidiary.5In this sectionmanager”, in relation to the applicant, means an employee of the applicant (other than a chief executive) who, under the immediate authority of a director or chief executive of the applicant—aexercises managerial functions, orbis responsible for maintaining accounts or other records of the applicant,not being a person whose functions relate exclusively to business conducted from a place of business outside the United Kingdom.6In this sectionmain agent”, in relation to the applicant, means, subject to such exceptions as may be prescribed, a person appointed by the applicant to be its agent in respect of general business in the United Kingdom, with authority to enter into contracts on behalf of the applicant in any financial year—awithout limit on the aggregate amount of premiums; orbwith a limit in excess of 10 per cent. of the premium limit as determined in accordance with Schedule 3 to this Act.7In this sectionchief executive”, in relation to the applicant or a body corporate of which it is a subsidiary, means an employee of the applicant or that body corporate, who, either alone or jointly with others, is responsible under the immediate authority of the directors for the conduct of the whole of the insurance business of the applicant or that body corporate.8In this sectionassociate”, in relation to any person, means—athe wife or husband or minor son or daughter of that person;bany company of which that person is a director;cany person who is an employee or partner of that person;dif that person is a company—iany director of that company;iiany subsidiary of that company;iiiany director or employee of any such subsidiary;and for the purposes of this subsectionson” includes step-son,daughter” includes step-daughter andminor”, in relation to Scotland, includes pupil. Applicants from other member States.81The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in a member State other than the United Kingdom unless the applicant has a representative fulfilling the requirements of section 10 below.2The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in a member State other than the United Kingdom if it appears to the Secretary of State that any relevant executive or main agent of the applicant is not a fit and proper person to hold the position held by him.3Where an applicant whose head office is in a member State other than the United Kingdom seeks an authorisation under section 3 above restricted to reinsurance business—athe Secretary of State shall not issue the authorisation unless he is satisfied that the applicant is a body corporate entitled under the law of that State to carry on insurance business there; andbsubsection (2) above shall have effect as if the reference to any relevant executive were a reference to any person who is a director, controller or manager of the applicant or a person within paragraph (a) or (b) of subsection (4) below.4In this sectionrelevant executive” in relation to the applicant means a person who is—athe representative referred to in subsection (1) above or the individual representative referred to in section 10(5) below;ban officer or employee of the applicant who, either alone or jointly with others, is responsible for the conduct of the whole of the insurance business carried on by the applicant in the United Kingdom, not being a person who—iis also responsible for the conduct of insurance business carried on by the applicant elsewhere, andiihas a subordinate who is responsible for the whole of the insurance business carried on by the applicant in the United Kingdom; orcan employee of the applicant who, under the immediate authority of a director or of an officer or employee within paragraph (b) above,—iexercises managerial functions, oriiis responsible for maintaining accounts or other records of the applicant, not being a person whose functions relate exclusively to business conducted from a place of business outside the United Kingdom;andcontroller”,manager” andmain agent” have the same meanings as in section 7 above. Applicants from outside the Community.91The Secretary of State shall not issue an authorisation under section 3 above in respect of long term or general business to an applicant whose head office is not in a member State unless he is satisfied—athat the applicant is a body corporate entitled under the law of the place where its head office is situated to carry on long term or, as the case may be, general business there;bthat the applicant has in the United Kingdom assets of such value as may be prescribed; andcthat the applicant has made a deposit of such amount and with such person as may be prescribed;but subject to subsection (2) and (3) below.2Where the applicant seeks to carry on insurance business in the United Kingdom and one or more other member States, the Secretary of State and the supervisory authority in the other State or States concerned may agree that this subsection shall apply to the applicant; and in that event—aparagraph (b) of subsection (1) above shall have effect as if the reference to the United Kingdom were a reference to the member States concerned taken together; andbparagraph (c) of that subsection shall have effect as if the reference to such person as may be prescribed were a reference to such person as may be agreed between the Secretary of State and the other supervisory authority or authorities concerned.3Paragraph (c) of subsection (1) above shall not apply where the authorisation sought is one restricted to reinsurance.4The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is not in a member State unless the applicant has a representative fulfilling the requirements of section 10 below.5The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is not in a member State if it appears to the Secretary of State that—athe representative of the applicant referred to in subsection (4) above or the individual representative referred to in section 10(5) below, orbany director, controller or manager of the applicant, orca main agent of the applicant,is not a fit and proper person to hold the position held by him.6In this sectioncontroller”,manager” andmain agent” have the same meanings as in section 7 above, except that for the purposes of this section the controllers of the applicant shall be taken to include any officer or employee who, either alone or jointly with others, is responsible for the conduct of the whole of the insurance business carried on by the applicant in the United Kingdom, not being a person who—ais also responsible for the conduct of insurance business carried on by it elsewhere; andbhas a subordinate who is responsible for the whole of the insurance business carried on by the applicant in the United Kingdom.7Regulations under this Act may make such provision as to deposits under this section as appears to the Secretary of State to be necessary or expedient, including provision for the deposits of securities instead of money, and, in relation to deposits with the Accountant General of the Supreme Court, provision applying (with or without modification) any of the provisions of the rules for the time being in force under section 38(7) of the Administration of Justice Act 1982. General representatives.101The requirements referred to in sections 8(1) and 9(4) above are those set out in the following provisions of this section.2The representative must be a person resident in the United Kingdom who has been designated as the applicant’s representative for the purposes of this section.3The representative must be authorised to act generally, and to accept service of any document, on behalf of the applicant.4The representative must not be an auditor, or a partner or employee of an auditor, of the accounts of any business carried on by the applicant.5If the representative is not an individual, it must be a company as defined in section 735 of the Companies Act or Article 3 of the Companies (Northern Ireland) Order 1986 with its head office in the United Kingdom and must itself have an individual representative resident in the United Kingdom who is authorised to act generally, and to accept service of any document, on behalf of the company in its capacity as representative of the applicant. Withdrawal of authorisation Withdrawal of authorisation in respect of new business.111The Secretary of State may, at the request of the company or on any grounds set out in subsection (2) below, direct that an insurance company authorised under section 3 or 4 above to carry on insurance business shall cease to be authorised to effect contracts of insurance, or contracts of any description specified in the direction.2The grounds referred to in subsection (1) above are—athat it appears to the Secretary of State that the company has failed to satisfy an obligation to which it is subject by virtue of this Act or the Financial Services Act 1986 or, if it is a member of a recognised self-regulating organisation within the meaning of that Act, an obligation to which it is subject by virtue of the rules of that organisation;aathat it appears to the Secretary of State that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State giving effect to the general insurance Directives;bthat there exists a ground on which he would be prohibited by section 7, 8 or 9 above from issuing an authorisation to the company;cthat the company has ceased to be authorised to effect contracts of insurance, or contracts of a particular description, in a member State where it has its head office or where it has in accordance with section 9(2) above made a deposit.3After giving a direction under this section otherwise than at the request of the company concerned the Secretary of State shall inform the company concerned of his reasons for giving the direction.4A direction under this section shall not prevent a company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance.5Where a direction under this section has been given in respect of a company which has its head office, or has in accordance with section 9(2) above made a deposit, in a member State other than the United Kingdom, the Secretary of State may revoke or vary the direction if after consultation with the supervisory authority in that member State he considers it appropriate to do so.6Subject to subsection (5) above a direction given under this section in respect of any insurance company may not be revoked or varied; but if the Secretary of State subsequently issues to the company under section 3 above an authorisation to carry on insurance business of a class to which the direction relates, the direction shall cease to have effect in relation to such business. Notices of withdrawal under section 11.121Before giving a direction under section 11 above otherwise than at the request of the company concerned the Secretary of State shall serve on the company a written notice stating—athat he is considering giving a direction and the ground on which he is considering it; andbthat the company may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if the company so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.2Before giving a direction under section 11 above in respect of a company on the ground that he would be prohibited by section 7(3), 8(2) or 9(5) from issuing an authorisation to the company, the Secretary of State shall serve on the person whose fitness is in question a written notice stating—athat he is considering giving a direction on that ground; andbthat the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if that person so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.3Subject to subsection (4) below, the Secretary of State shall consider any representations made in response to a notice under subsection (2) above before serving a notice under subsection (1) above.4Subsection (3) above shall not apply where the position held by the person on whom the notice under subsection (2) above is served, and whose fitness for that position is in question, is controller of a company.5A notice under subsection (1) or (2) above shall give particulars of the ground on which the Secretary of State is considering giving a direction.6Where representations are to be made in response to a notice under subsection (1) or (2) above, the Secretary of State shall take them into consideration before giving a direction.7Any notice to be served on a person under subsection (1) or (2) above may be served by post, and a letter containing the notice shall be deemed to be properly addressed if it is addressed to that person at his last known residence or last known place of business in the United Kingdom.8After giving a direction under section 11 above the Secretary of State shall publish notice of it in the London, Edinburgh and Belfast Gazettes and in such other ways as appear to him expedient for notifying the public.<Addition ChangeId="d30p6378" CommentaryRef="c1481850"> Suspension of authorisation in urgent cases.</Addition>12A1Where, in the case of a UK or non-EC company, it appears to the Secretary of State—athat one of the grounds in section 11(2) above exists in relation to the company: andbthat the authorisation should be suspended as a matter of urgency,the Secretary of State may direct that the company shall forthwith cease to be authorised to effect contracts of insurance, or contracts of any description specified in the direction.2A direction under this section—ashall not prevent a company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance; andbunless confirmed by the Secretary of State under subsection (6) below, shall cease to have effect at the end of the relevant period.3Where the Secretary of State gives a direction under this section, he shall forthwith serve on the company a written notice stating—athe ground on which the direction is given; andbthat the company may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if the company so requests, oral representations to an officer of the Department of Trade and Industry appointed for the purpose by the Secretary of State.4Where the Secretary of State gives a direction under this section on the ground set out in section 11(2)(ab) above, the Secretary of State shall forthwith serve on any person whose fitness is in question a written notice stating—athe ground for giving the direction; andbthat the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if that person so requests, oral representations to an officer of the Department of Trade and Industry appointed for the purpose by the Secretary of State.5The Secretary of State shall consider any representations made in response to a notice under subsection (3) or (4) above before confirming a direction under this section.6At any time before the end of the relevant period, the Secretary of State may confirm a direction under this section by a written notice served on the company.7Where a direction under this section is so confirmed, it may not be revoked or varied; but if the Secretary of State subsequently issues to the company under section 3 above an authorisation to carry on insurance business of a class to which the direction relates, the direction shall cease to have effect in relation to such business.8In this section 'the relevant period’, in relation to a direction under this section, means the period of two months beginning with the date on which the direction is given. Final withdrawal of authorisation.131Where an insurance company ceases to carry on in the United Kingdom any insurance business, or insurance business of any class, the Secretary of State may direct that it shall cease to be authorised under section 3 or 4 above to carry on insurance business, or insurance business of that class.2If a body authorised under section 3 above to carry on insurance business of any class has not at any time carried on business of that class, and at least twelve months have elapsed since the issue of the authorisation, the Secretary of State may direct that it shall cease to be authorised to carry on business of that class.2AThe Secretary of State may direct that an insurance company shall cease to be authorised to carry on business which is insurance business by virtue of section 95(c)(ii) of this Act if it appears to him that the company has failed to satisfy an obligation to which it is subject by virtue of the Financial Services Act 1986 or, if it is a member of a recognised self-regulating organisation within the meaning of that Act, an obligation to which it is subject by virtue of the rules of that organisation.2BSubsections (3), (5) and (6) of section 11 and subsections (1) and (5) to (8) of section 12 above shall apply to a direction under subsection (2A) above as they apply to a direction under section 11.3A direction under this section is without prejudice to the subsequent issue of an authorisation to carry on insurance business of a class to which the direction relates. Offences Offences under Part I.141A person who carries on business in contravention of this Part of this Act shall be guilty of an offence.2A person who for the purpose of obtaining the issue of an authorisation furnishes information which he knows to be false in a material particular or recklessly furnishes information which is false in a material particular shall be guilty of an offence.3A person guilty of an offence under this section shall be liable—aon conviction on indictment, to imprisonment for a term not exceeding two years, or to a fine, or to both;bon summary conviction—iin England and Wales . . . , to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 32 of the Magistrates’ Courts Act 1980;iiin Scotland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 289B of the Criminal Procedure (Scotland) Act 1975;iiiin Northern Ireland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of Article 4 of the Fines and Penalties (Northern Ireland) Order 1984.Words inserted by S.I. 1990/1159, reg. 10(2)S. 1(4A) inserted by S.I. 1990/1159, reg. 10(3)1974 c. 52. Words substituted by S.I. 1987/2130, reg. 2(a)S. 3 restricted by Financial Services Act 1986 (c. 60, SIF 69), s. 129, Sch. 10 para. 10(1)s. 3: power to exclude conferred by Financial Services Act 1986 (c. 60, SIF 69), s. 184(5)s. 3 modified (24.12.1996) by S.I. 1996/3011, regs. 3(1)(a), 10(1)S. 4: power to exclude conferred by Financial Services Act 1986 (c. 60, SIF 69), s. 184(5)1981 c. 31. Figure substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIWords substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II “15 per cent" substituted (12.1.1987 for the purpose mentioned in 1986/2246, Sch. 2 but otherwise (prosp.)) for “one-third" by Financial Services Act 1986 (c. 60, SIF 69), s. 1341982 c. 53. Figure substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIWords substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIS. 11 applied by Financial Services Act 1986 (c. 60, SIF 69), ss. 98(4), 129, Sch. 10 para. 9Words inserted by Financial Services Act 1986 (c. 60, SIF 69), s. 129, Sch. 10 para. 7(1)S. 11(2)(aa) inserted by S.I. 1990/1333, reg. 8(1)S. 13 amended (1.1.1993) by S.I. 1992/3218, reg.64S. 13(2A)(2B) inserted by Financial Services Act 1986 (c. 60, SIF 69), s. 129, Sch. 10 para. 7(2)S. 13(2A) applied by Financial Services Act 1986 (c. 60, SIF 69), ss. 98(4), 129, Sch. 10 para. 9S. 12A inserted (1.7.1994) by S.I. 1994/1696, reg. 11Words repealed by S.I. 1984/703 (N.I. 3), art. 19(1)(2), Sch. 6 para. 30(a), Sch. 71980 c. 43. 1975 c. 21. S. 14(3)(b)(iii) substituted for words by S.I. 1984/703 (N.I. 3), art. 19(1), Sch. 6 para. 30(b)
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<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/1982/50/1991-02-01" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/1982/50/introduction/1991-02-01" title="Introduction; Introduction"/>
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<atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/1982/50/part/II/1991-02-01" title="Part; Part II"/>
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<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="1982"/>
<ukm:Number Value="50"/>
<ukm:EnactmentDate Date="1982-10-28"/>
<ukm:UnappliedEffects>
<ukm:UnappliedEffect RequiresApplied="true" Modified="2014-03-14T15:51:33.106Z" URI="http://www.legislation.gov.uk/id/effect/uksi-2003-708-adw9qsb1-32" AffectedNumber="50" AffectingYear="2003" Notes="commencement order for 2001 c. 16" AffectedURI="http://www.legislation.gov.uk/id/ukpga/1982/50" AffectedClass="UnitedKingdomPublicGeneralAct" AffectedProvisions="specified amended provision(s)" Created="2014-03-14T15:51:33.106Z" Type="Commencement Order" AffectingClass="UnitedKingdomStatutoryInstrument" AffectingProvisions="art. 2" AffectedYear="1982" EffectId="key-07f0034f21e952eda390cf2fde002094" AffectingURI="http://www.legislation.gov.uk/id/uksi/2003/708" AffectingNumber="708">
<ukm:AffectedTitle>Insurance Companies Act 1982 (repealed)</ukm:AffectedTitle>
<ukm:AffectedTitle>Insurance Companies Act 1982(repealed)</ukm:AffectedTitle>
<ukm:AffectedProvisions>specified amended provision(s)</ukm:AffectedProvisions>
<ukm:AffectingTitle>The Criminal Justice and Police Act 2001 (Commencement No. 9) Order 2003</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="article-2" URI="http://www.legislation.gov.uk/id/uksi/2003/708/article/2">art. 2</ukm:Section>
</ukm:AffectingProvisions>
<ukm:Commenced>
commencement order for
<ukm:Citation Class="UnitedKingdomPublicGeneralAct" URI="http://www.legislation.gov.uk/id/ukpga/2001/16" Year="2001" Number="16" Title="Criminal Justice and Police Act 2001">2001 c. 16</ukm:Citation>
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<ukm:Alternative Date="2008-10-27" URI="http://www.legislation.gov.uk/ukpga/1982/50/pdfs/ukpga_19820050_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
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<Primary>
<Body DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/body/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/body" NumberOfProvisions="140" RestrictExtent="E+W+S+N.I." RestrictStartDate="1991-01-02" RestrictEndDate="2001-12-01">
<Part DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I" NumberOfProvisions="15" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I">
<Number>Part I</Number>
<Title> Restriction on Carrying on Insurance Business</Title>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/crossheading/preliminary/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I/crossheading/preliminary" NumberOfProvisions="2" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I-crossheading-preliminary">
<Title> Preliminary</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01">
<Title> Classification.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1" id="section-1">
<Pnumber>1</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/1" id="section-1-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>For the purposes of this Act insurance business is divided into long term business and general business; and—</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-long-term-business">long term business</Term>
” means insurance business of any of the classes specified in Schedule 1 to this Act, and
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-general-business">general business</Term>
” means insurance business of any of the classes specified in Part I of Schedule 2 to this Act.
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/2" id="section-1-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>For the purposes of this Act the effecting and carrying out of a contract whose principal object is within one class of insurance business, but which contains related and subsidiary provisions within another class or classes, shall be taken to constitute the carrying on of insurance business of the first-mentioned class, and no other, if subsection (3) or (4) below applies to the contract.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/3" id="section-1-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>This subsection applies to a contract whose principal object is within any class of long term business but which contains subsidiary provisions within general business class 1 or 2 if the insurer is authorised under section 3 or 4 below to carry on long term business class I.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/4" id="section-1-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>
This subsection applies to a contract whose principal object is within one of the classes of general business but which contains subsidiary provisions within another of those classes, not being class 14 or 15
<Addition ChangeId="d30p216" CommentaryRef="c1481578">or (except as mentioned in subsection (4A) below) class 17.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/4A/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/4A" id="section-1-4A">
<Pnumber>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">4A</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">Subsection (4) applies to a contract whose principal object is within one of the classes of general business but which contains subsidiary provisions within general business class 17 if—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/4A/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/4A/a" id="section-1-4A-a">
<Pnumber>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">the principal object of the contract is the provision of assistance for persons who get into difficulties while travelling, while away from home or while away from their permanent residence, or</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/1/4A/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/4A/b" id="section-1-4A-b">
<Pnumber>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p219" CommentaryRef="c1481579">those subsidiary provisions concern disputes or risks arising out of, or in connection with, the use of sea-going vessels</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1992-10-16">
<Title> Restriction on carrying on insurance business.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2" id="section-2">
<Pnumber>2</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/1" id="section-2-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Subject to the following provisions of this section, no person shall carry on any insurance business in the United Kingdom unless authorised to do so under section 3 or 4 below.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/2" id="section-2-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Subsection (1) above shall not apply to insurance business (other than industrial assurance business) carried on—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/2/a" id="section-2-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>by a member of Lloyd’s, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/2/b" id="section-2-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>by a body registered under the enactments relating to friendly societies; or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/2/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/2/c" id="section-2-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>by a trade union or employers’ association where the insurance business carried on by the union or association is limited to the provision for its members of provident benefits or strike benefits.</Text>
</P3para>
</P3>
<Text>
In this subsection “trade union" and “employers’ association" have (throughout the United Kingdom) the meanings assigned to them by section 28 of the
<CommentaryRef Ref="c1481580"/>
Trade Union and Labour Relations Act 1974.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/3" id="section-2-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Subsection (1) above shall not apply to industrial assurance business carried on by a friendly society registered under the enactments relating to such societies.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/4" id="section-2-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>
Subsection (1) above shall not apply to general business of class 14, 15, 16
<Addition ChangeId="d30p294" CommentaryRef="c1481581">, 17 or 18</Addition>
if it is carried on solely in the course of carrying on, and for the purposes of, banking business.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/2/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/2/5" id="section-2-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Subsection (1) above shall not apply to general business consisting in the effecting and carrying out, by an insurance company that carries on no other insurance business, of contracts of such descriptions as may be prescribed, being contracts under which the benefits provided by the insurer are exclusively or primarily benefits in kind.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/crossheading/authorised-insurance-companies/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I/crossheading/authorised-insurance-companies" NumberOfProvisions="2" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I-crossheading-authorised-insurance-companies">
<Title> Authorised insurance companies</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1998-01-05">
<Title> Authorisation by Secretary of State.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3" id="section-3">
<Pnumber>
<CommentaryRef Ref="c1481605"/>
3
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/3/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3/1" id="section-3-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State may authorise a body to carry on in the United Kingdom such of the classes of insurance business specified in Schedule 1 or 2 to this Act, or such parts of those classes, as may be specified in the authorisation.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/3/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3/2" id="section-3-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>An authorisation under this section may be restricted to industrial assurance business or to reinsurance business; and a body may not carry on industrial assurance business by virtue of an authorisation under this section unless the authorisation expressly extends to such business.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/3/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3/3" id="section-3-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>An authorisation under this section may identify classes or parts of classes of general business by referring to the appropriate groups specified in Part II of Schedule 2 to this Act.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/3/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3/4" id="section-3-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>On the issue to a body of an authorisation under this section, any previous authorisation of that body under this section or section 4 below shall lapse.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01">
<Title> Existing insurance companies.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4" id="section-4">
<Pnumber>
<CommentaryRef Ref="c1481609"/>
4
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/4/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4/1" id="section-4-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>
A body that was, immediately before the commencement of this Act, authorised under section 3 or 4 of the
<CommentaryRef Ref="c1481610"/>
Insurance Companies Act 1981 to carry on in the United Kingdom insurance business of a class specified in Schedule 1 or 2 to that Act (or a part of such a class) is authorised to carry on there insurance business of the class identified by the same number in Schedule 1 or 2 to this Act (or that part of such a class).
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/4/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4/2" id="section-4-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A body may not carry on industrial assurance business by virtue of this section unless—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/4/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4/2/a" id="section-4-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>it was carrying on such business immediately before 1st January 1982, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/4/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4/2/b" id="section-4-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>it was immediately before the commencement of this Act authorised to carry on such business under section 3 of the Insurance Companies Act 1981.</Text>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/crossheading/applications-for-authorisation/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I/crossheading/applications-for-authorisation" NumberOfProvisions="6" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I-crossheading-applications-for-authorisation">
<Title> Applications for authorisation</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1992-11-19" ConfersPower="true">
<Title>
Submission of proposals
<Abbreviation Expansion="et cetera" xml:lang="la">etc.</Abbreviation>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/5" id="section-5">
<Pnumber>5</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/5/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/5/1" id="section-5-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above unless—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/5/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/5/1/a" id="section-5-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the applicant has submitted to him such proposals as to the manner in which it proposes to carry on business, such financial forecasts and such other information as may be required by or in accordance with regulations under this Act, and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/5/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/5/1/b" id="section-5-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>he is satisfied on the basis of that and any other information received by him that the application ought to be granted.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/5/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/5/2" id="section-5-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Secretary of State shall decide an application for an authorisation under section 3 above within six months of receiving the information referred to in subsection (1)(a) above; and if he refuses to issue the authorisation he shall inform the applicant in writing of the reasons for the refusal.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1994-07-01">
<Title> Combination of long term and general business.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/6" id="section-6">
<Pnumber>6</Pnumber>
<P1para>
<Text>The Secretary of State shall not under section 3 above authorise a body to carry on both long term business and general business unless—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/6/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/6/a" id="section-6-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the long term business is restricted to reinsurance, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/6/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/6/b" id="section-6-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>the body is at the time the authorisation is issued already lawfully carrying on in the United Kingdom both long term business and general business (in neither case restricted to reinsurance).</Text>
</P3para>
</P3>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1991-05-15" ConfersPower="true">
<Title> United Kingdom applicants.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7" id="section-7">
<Pnumber>7</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/1" id="section-7-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom unless the applicant is—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/1/a" id="section-7-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>
a company as defined in section
<Addition ChangeId="d30p1899" CommentaryRef="c1481661">735</Addition>
of the
<Addition ChangeId="d30p1903" CommentaryRef="c1481662">Companies Act</Addition>
or
<Addition ChangeId="d30p1907" CommentaryRef="c1481663">Article 3</Addition>
of the
<Addition ChangeId="d30p1911" CommentaryRef="c1481664">Companies (Northern Ireland) Order 1986</Addition>
, or
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/1/b" id="section-7-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>a registered society, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/1/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/1/c" id="section-7-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>a body corporate established by royal charter or Act of Parliament and already authorised under section 3 or 4 above to carry on insurance business (though not to the extent proposed in the application).</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/2" id="section-7-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom if it has an issued share capital any part of which was issued after the commencement of this section but is not fully paid up.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/3" id="section-7-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in the United Kingdom if it appears to the Secretary of State that any director, controller, manager or main agent of the applicant is not a fit and proper person to hold the position held by him.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4" id="section-7-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-controller">controller</Term>
”, in relation to the applicant, means—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4/a" id="section-7-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>a managing director of the applicant or of a body corporate of which the applicant is a subsidiary;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4/b" id="section-7-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>a chief executive of the applicant or of a body corporate, being an insurance company, of which the applicant is a subsidiary;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4/c" id="section-7-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>a person—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/c/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4/c/i" id="section-7-4-c-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>in accordance with whose directions or instructions the directors of the applicant or of a body corporate of which it is a subsidiary are accustomed to act, or</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/4/c/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/4/c/ii" id="section-7-4-c-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>
who either alone or with any associate or associates is entitled to exercise, or control the exercise of,
<Addition ChangeId="d30p1983" CommentaryRef="c1481665">one-third</Addition>
<Addition ChangeId="d30p1986" CommentaryRef="c1481665">15 per cent</Addition>
or more of the voting power at any general meeting of the applicant or of a body corporate of which it is a subsidiary.
</Text>
</P4para>
</P4>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/5" id="section-7-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-manager">manager</Term>
”, in relation to the applicant, means an employee of the applicant (other than a chief executive) who, under the immediate authority of a director or chief executive of the applicant—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/5/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/5/a" id="section-7-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>exercises managerial functions, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/5/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/5/b" id="section-7-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>is responsible for maintaining accounts or other records of the applicant,</Text>
</P3para>
</P3>
<Text>not being a person whose functions relate exclusively to business conducted from a place of business outside the United Kingdom.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/6" id="section-7-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-main-agent">main agent</Term>
”, in relation to the applicant, means, subject to such exceptions as may be prescribed, a person appointed by the applicant to be its agent in respect of general business in the United Kingdom, with authority to enter into contracts on behalf of the applicant in any financial year—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/6/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/6/a" id="section-7-6-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>without limit on the aggregate amount of premiums; or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/6/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/6/b" id="section-7-6-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>with a limit in excess of 10 per cent. of the premium limit as determined in accordance with Schedule 3 to this Act.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/7/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/7" id="section-7-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>In this section</Text>
<BlockText>
<Text>
<Term id="term-chief-executive">chief executive</Term>
”, in relation to the applicant or a body corporate of which it is a subsidiary, means an employee of the applicant or that body corporate, who, either alone or jointly with others, is responsible under the immediate authority of the directors for the conduct of the whole of the insurance business of the applicant or that body corporate.
</Text>
</BlockText>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8" id="section-7-8">
<Pnumber>8</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-associate">associate</Term>
”, in relation to any person, means—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/a" id="section-7-8-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the wife or husband or minor son or daughter of that person;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/b" id="section-7-8-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>any company of which that person is a director;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/c" id="section-7-8-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>any person who is an employee or partner of that person;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/d/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/d" id="section-7-8-d">
<Pnumber>d</Pnumber>
<P3para>
<Text>if that person is a company—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/d/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/d/i" id="section-7-8-d-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>any director of that company;</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/d/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/d/ii" id="section-7-8-d-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>any subsidiary of that company;</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/7/8/d/iii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/7/8/d/iii" id="section-7-8-d-iii">
<Pnumber>iii</Pnumber>
<P4para>
<Text>any director or employee of any such subsidiary;</Text>
</P4para>
</P4>
</P3para>
</P3>
<Text>and for the purposes of this subsection</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-son">son</Term>
” includes step-son,
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-daughter">daughter</Term>
” includes step-daughter and
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-minor">minor</Term>
”, in relation to Scotland, includes pupil.
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1994-01-05">
<Title> Applicants from other member States.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8" id="section-8">
<Pnumber>8</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/1" id="section-8-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in a member State other than the United Kingdom unless the applicant has a representative fulfilling the requirements of section 10 below.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/2" id="section-8-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is in a member State other than the United Kingdom if it appears to the Secretary of State that any relevant executive or main agent of the applicant is not a fit and proper person to hold the position held by him.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/3" id="section-8-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Where an applicant whose head office is in a member State other than the United Kingdom seeks an authorisation under section 3 above restricted to reinsurance business—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/3/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/3/a" id="section-8-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the Secretary of State shall not issue the authorisation unless he is satisfied that the applicant is a body corporate entitled under the law of that State to carry on insurance business there; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/3/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/3/b" id="section-8-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>subsection (2) above shall have effect as if the reference to any relevant executive were a reference to any person who is a director, controller or manager of the applicant or a person within paragraph (a) or (b) of subsection (4) below.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4" id="section-8-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-relevant-executive">relevant executive</Term>
” in relation to the applicant means a person who is—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/a" id="section-8-4-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the representative referred to in subsection (1) above or the individual representative referred to in section 10(5) below;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/b" id="section-8-4-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>an officer or employee of the applicant who, either alone or jointly with others, is responsible for the conduct of the whole of the insurance business carried on by the applicant in the United Kingdom, not being a person who—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/b/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/b/i" id="section-8-4-b-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>is also responsible for the conduct of insurance business carried on by the applicant elsewhere, and</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/b/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/b/ii" id="section-8-4-b-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>has a subordinate who is responsible for the whole of the insurance business carried on by the applicant in the United Kingdom; or</Text>
</P4para>
</P4>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/c" id="section-8-4-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>an employee of the applicant who, under the immediate authority of a director or of an officer or employee within paragraph (b) above,—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/c/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/c/i" id="section-8-4-c-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>exercises managerial functions, or</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/8/4/c/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/8/4/c/ii" id="section-8-4-c-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>is responsible for maintaining accounts or other records of the applicant, not being a person whose functions relate exclusively to business conducted from a place of business outside the United Kingdom;</Text>
</P4para>
</P4>
</P3para>
</P3>
<Text>and</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-controller">controller</Term>
”,
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-manager">manager</Term>
” and
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-main-agent">main agent</Term>
” have the same meanings as in section 7 above.
</Text>
</Para>
</ListItem>
</UnorderedList>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1994-01-05" ConfersPower="true">
<Title> Applicants from outside the Community.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9" id="section-9">
<Pnumber>9</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/1" id="section-9-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above in respect of long term or general business to an applicant whose head office is not in a member State unless he is satisfied—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/1/a" id="section-9-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>that the applicant is a body corporate entitled under the law of the place where its head office is situated to carry on long term or, as the case may be, general business there;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/1/b" id="section-9-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>that the applicant has in the United Kingdom assets of such value as may be prescribed; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/1/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/1/c" id="section-9-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>that the applicant has made a deposit of such amount and with such person as may be prescribed;</Text>
</P3para>
</P3>
<Text>but subject to subsection (2) and (3) below.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/2" id="section-9-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Where the applicant seeks to carry on insurance business in the United Kingdom and one or more other member States, the Secretary of State and the supervisory authority in the other State or States concerned may agree that this subsection shall apply to the applicant; and in that event—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/2/a" id="section-9-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>paragraph (b) of subsection (1) above shall have effect as if the reference to the United Kingdom were a reference to the member States concerned taken together; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/2/b" id="section-9-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>paragraph (c) of that subsection shall have effect as if the reference to such person as may be prescribed were a reference to such person as may be agreed between the Secretary of State and the other supervisory authority or authorities concerned.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/3" id="section-9-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Paragraph (c) of subsection (1) above shall not apply where the authorisation sought is one restricted to reinsurance.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/4" id="section-9-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is not in a member State unless the applicant has a representative fulfilling the requirements of section 10 below.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/5" id="section-9-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>The Secretary of State shall not issue an authorisation under section 3 above to an applicant whose head office is not in a member State if it appears to the Secretary of State that—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/5/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/5/a" id="section-9-5-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>the representative of the applicant referred to in subsection (4) above or the individual representative referred to in section 10(5) below, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/5/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/5/b" id="section-9-5-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>any director, controller or manager of the applicant, or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/5/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/5/c" id="section-9-5-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>a main agent of the applicant,</Text>
</P3para>
</P3>
<Text>is not a fit and proper person to hold the position held by him.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/6" id="section-9-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>In this section</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-controller">controller</Term>
”,
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-manager">manager</Term>
” and
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-main-agent">main agent</Term>
” have the same meanings as in section 7 above, except that for the purposes of this section the controllers of the applicant shall be taken to include any officer or employee who, either alone or jointly with others, is responsible for the conduct of the whole of the insurance business carried on by the applicant in the United Kingdom, not being a person who—
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/6/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/6/a" id="section-9-6-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>is also responsible for the conduct of insurance business carried on by it elsewhere; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/6/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/6/b" id="section-9-6-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>has a subordinate who is responsible for the whole of the insurance business carried on by the applicant in the United Kingdom.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/9/7/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/9/7" id="section-9-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>
Regulations under this Act may make such provision as to deposits under this section as appears to the Secretary of State to be necessary or expedient, including provision for the deposits of securities instead of money, and, in relation to deposits with the Accountant General of the Supreme Court, provision applying (with or without modification) any of the provisions of the rules for the time being in force under section 38(7) of the
<CommentaryRef Ref="c1481738"/>
Administration of Justice Act 1982.
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01">
<Title> General representatives.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10" id="section-10">
<Pnumber>10</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10/1" id="section-10-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The requirements referred to in sections 8(1) and 9(4) above are those set out in the following provisions of this section.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10/2" id="section-10-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The representative must be a person resident in the United Kingdom who has been designated as the applicant’s representative for the purposes of this section.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10/3" id="section-10-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>The representative must be authorised to act generally, and to accept service of any document, on behalf of the applicant.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10/4" id="section-10-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>The representative must not be an auditor, or a partner or employee of an auditor, of the accounts of any business carried on by the applicant.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/10/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/10/5" id="section-10-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>
If the representative is not an individual, it must be a company as defined in section
<Addition ChangeId="d30p4851" CommentaryRef="c1481768">735</Addition>
of the
<Addition ChangeId="d30p4855" CommentaryRef="c1481769">Companies Act</Addition>
or
<Addition ChangeId="d30p4859" CommentaryRef="c1481770">Article 3</Addition>
of the
<Addition ChangeId="d30p4863" CommentaryRef="c1481771">Companies (Northern Ireland) Order 1986</Addition>
with its head office in the United Kingdom and must itself have an individual representative resident in the United Kingdom who is authorised to act generally, and to accept service of any document, on behalf of the company in its capacity as representative of the applicant.
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/crossheading/withdrawal-of-authorisation/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I/crossheading/withdrawal-of-authorisation" NumberOfProvisions="4" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I-crossheading-withdrawal-of-authorisation">
<Title> Withdrawal of authorisation</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1993-05-20">
<Title> Withdrawal of authorisation in respect of new business.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11" id="section-11">
<Pnumber>
<CommentaryRef Ref="c1481772"/>
11
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/1" id="section-11-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>The Secretary of State may, at the request of the company or on any grounds set out in subsection (2) below, direct that an insurance company authorised under section 3 or 4 above to carry on insurance business shall cease to be authorised to effect contracts of insurance, or contracts of any description specified in the direction.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2" id="section-11-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>The grounds referred to in subsection (1) above are—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2/a" id="section-11-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>
that it appears to the Secretary of State that the company has failed to satisfy an obligation to which it is subject by virtue of this Act
<Addition ChangeId="d30p4903" CommentaryRef="c1481773">or the Financial Services Act 1986 or, if it is a member of a recognised self-regulating organisation within the meaning of that Act, an obligation to which it is subject by virtue of the rules of that organisation</Addition>
;
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/2/aa/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2/aa" id="section-11-2-aa">
<Pnumber>
<Addition ChangeId="d30p4907" CommentaryRef="c1481774">aa</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p4907" CommentaryRef="c1481774">that it appears to the Secretary of State that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State giving effect to the general insurance Directives;</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2/b" id="section-11-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>that there exists a ground on which he would be prohibited by section 7, 8 or 9 above from issuing an authorisation to the company;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/2/c/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2/c" id="section-11-2-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>that the company has ceased to be authorised to effect contracts of insurance, or contracts of a particular description, in a member State where it has its head office or where it has in accordance with section 9(2) above made a deposit.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/3" id="section-11-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>After giving a direction under this section otherwise than at the request of the company concerned the Secretary of State shall inform the company concerned of his reasons for giving the direction.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/4" id="section-11-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>A direction under this section shall not prevent a company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/5" id="section-11-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>Where a direction under this section has been given in respect of a company which has its head office, or has in accordance with section 9(2) above made a deposit, in a member State other than the United Kingdom, the Secretary of State may revoke or vary the direction if after consultation with the supervisory authority in that member State he considers it appropriate to do so.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/11/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/6" id="section-11-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>Subject to subsection (5) above a direction given under this section in respect of any insurance company may not be revoked or varied; but if the Secretary of State subsequently issues to the company under section 3 above an authorisation to carry on insurance business of a class to which the direction relates, the direction shall cease to have effect in relation to such business.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1994-07-01">
<Title> Notices of withdrawal under section 11.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12" id="section-12">
<Pnumber>12</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/1" id="section-12-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Before giving a direction under section 11 above otherwise than at the request of the company concerned the Secretary of State shall serve on the company a written notice stating—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/1/a" id="section-12-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>that he is considering giving a direction and the ground on which he is considering it; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/1/b" id="section-12-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>that the company may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if the company so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/2" id="section-12-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>Before giving a direction under section 11 above in respect of a company on the ground that he would be prohibited by section 7(3), 8(2) or 9(5) from issuing an authorisation to the company, the Secretary of State shall serve on the person whose fitness is in question a written notice stating—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/2/a" id="section-12-2-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>that he is considering giving a direction on that ground; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/2/b" id="section-12-2-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if that person so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/3" id="section-12-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>Subject to subsection (4) below, the Secretary of State shall consider any representations made in response to a notice under subsection (2) above before serving a notice under subsection (1) above.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/4" id="section-12-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Subsection (3) above shall not apply where the position held by the person on whom the notice under subsection (2) above is served, and whose fitness for that position is in question, is controller of a company.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/5" id="section-12-5">
<Pnumber>5</Pnumber>
<P2para>
<Text>A notice under subsection (1) or (2) above shall give particulars of the ground on which the Secretary of State is considering giving a direction.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/6" id="section-12-6">
<Pnumber>6</Pnumber>
<P2para>
<Text>Where representations are to be made in response to a notice under subsection (1) or (2) above, the Secretary of State shall take them into consideration before giving a direction.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/7/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/7" id="section-12-7">
<Pnumber>7</Pnumber>
<P2para>
<Text>Any notice to be served on a person under subsection (1) or (2) above may be served by post, and a letter containing the notice shall be deemed to be properly addressed if it is addressed to that person at his last known residence or last known place of business in the United Kingdom.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12/8/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12/8" id="section-12-8">
<Pnumber>8</Pnumber>
<P2para>
<Text>After giving a direction under section 11 above the Secretary of State shall publish notice of it in the London, Edinburgh and Belfast Gazettes and in such other ways as appear to him expedient for notifying the public.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="1994-07-01" RestrictEndDate="1998-01-05" Match="false">
<Title>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850"> Suspension of authorisation in urgent cases.</Addition>
</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A" id="section-12A">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">12A</Addition>
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/1" id="section-12A-1">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">1</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">
Where, in the case of a
<Acronym Expansion="United Kingdom">UK</Acronym>
or non-EC company, it appears to the Secretary of State—
</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/1/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/1/a" id="section-12A-1-a">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">that one of the grounds in section 11(2) above exists in relation to the company: and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/1/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/1/b" id="section-12A-1-b">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">that the authorisation should be suspended as a matter of urgency,</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">the Secretary of State may direct that the company shall forthwith cease to be authorised to effect contracts of insurance, or contracts of any description specified in the direction.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/2" id="section-12A-2">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">2</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">A direction under this section—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/2/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/2/a" id="section-12A-2-a">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">shall not prevent a company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance; and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/2/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/2/b" id="section-12A-2-b">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">unless confirmed by the Secretary of State under subsection (6) below, shall cease to have effect at the end of the relevant period.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/3" id="section-12A-3">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">3</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">Where the Secretary of State gives a direction under this section, he shall forthwith serve on the company a written notice stating—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/3/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/3/a" id="section-12A-3-a">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">the ground on which the direction is given; and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/3/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/3/b" id="section-12A-3-b">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">that the company may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if the company so requests, oral representations to an officer of the Department of Trade and Industry appointed for the purpose by the Secretary of State.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/4/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/4" id="section-12A-4">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">4</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">Where the Secretary of State gives a direction under this section on the ground set out in section 11(2)(ab) above, the Secretary of State shall forthwith serve on any person whose fitness is in question a written notice stating—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/4/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/4/a" id="section-12A-4-a">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">the ground for giving the direction; and</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/4/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/4/b" id="section-12A-4-b">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if that person so requests, oral representations to an officer of the Department of Trade and Industry appointed for the purpose by the Secretary of State.</Addition>
</Text>
</P3para>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/5/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/5" id="section-12A-5">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">5</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">The Secretary of State shall consider any representations made in response to a notice under subsection (3) or (4) above before confirming a direction under this section.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/6/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/6" id="section-12A-6">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">6</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">At any time before the end of the relevant period, the Secretary of State may confirm a direction under this section by a written notice served on the company.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/7/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/7" id="section-12A-7">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">7</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">Where a direction under this section is so confirmed, it may not be revoked or varied; but if the Secretary of State subsequently issues to the company under section 3 above an authorisation to carry on insurance business of a class to which the direction relates, the direction shall cease to have effect in relation to such business.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/12A/8/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A/8" id="section-12A-8">
<Pnumber>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">8</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6378" CommentaryRef="c1481850">In this section 'the relevant period’, in relation to a direction under this section, means the period of two months beginning with the date on which the direction is given.</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1994-07-01">
<Title> Final withdrawal of authorisation.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13" id="section-13">
<Pnumber>
<CommentaryRef Ref="c1481870"/>
13
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/1" id="section-13-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>Where an insurance company ceases to carry on in the United Kingdom any insurance business, or insurance business of any class, the Secretary of State may direct that it shall cease to be authorised under section 3 or 4 above to carry on insurance business, or insurance business of that class.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/2" id="section-13-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>If a body authorised under section 3 above to carry on insurance business of any class has not at any time carried on business of that class, and at least twelve months have elapsed since the issue of the authorisation, the Secretary of State may direct that it shall cease to be authorised to carry on business of that class.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/2A/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/2A" id="section-13-2A">
<Pnumber>
<Addition ChangeId="d30p6185" CommentaryRef="c1481871">
<CommentaryRef Ref="c1481872"/>
2A
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6185" CommentaryRef="c1481871">The Secretary of State may direct that an insurance company shall cease to be authorised to carry on business which is insurance business by virtue of section 95(c)(ii) of this Act if it appears to him that the company has failed to satisfy an obligation to which it is subject by virtue of the Financial Services Act 1986 or, if it is a member of a recognised self-regulating organisation within the meaning of that Act, an obligation to which it is subject by virtue of the rules of that organisation.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/2B/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/2B" id="section-13-2B">
<Pnumber>
<Addition ChangeId="d30p6185" CommentaryRef="c1481871">2B</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p6185" CommentaryRef="c1481871">Subsections (3), (5) and (6) of section 11 and subsections (1) and (5) to (8) of section 12 above shall apply to a direction under subsection (2A) above as they apply to a direction under section 11.</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/13/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/3" id="section-13-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A direction under this section is without prejudice to the subsequent issue of an authorisation to carry on insurance business of a class to which the direction relates.</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/I/crossheading/offences/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/I/crossheading/offences" NumberOfProvisions="1" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" id="part-I-crossheading-offences">
<Title> Offences</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictEndDate="1996-04-01">
<Title> Offences under Part I.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14" id="section-14">
<Pnumber>14</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/1/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/1" id="section-14-1">
<Pnumber>1</Pnumber>
<P2para>
<Text>A person who carries on business in contravention of this Part of this Act shall be guilty of an offence.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/2/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/2" id="section-14-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>A person who for the purpose of obtaining the issue of an authorisation furnishes information which he knows to be false in a material particular or recklessly furnishes information which is false in a material particular shall be guilty of an offence.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3" id="section-14-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A person guilty of an offence under this section shall be liable—</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/a/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3/a" id="section-14-3-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>on conviction on indictment, to imprisonment for a term not exceeding two years, or to a fine, or to both;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/b/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3/b" id="section-14-3-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>on summary conviction—</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/b/i/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3/b/i" id="section-14-3-b-i">
<Pnumber>i</Pnumber>
<P4para>
<Text>
in England and Wales . . .
<CommentaryRef Ref="c1481883"/>
, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 32 of the
<CommentaryRef Ref="c1481884"/>
Magistrates’ Courts Act 1980;
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/b/ii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3/b/ii" id="section-14-3-b-ii">
<Pnumber>ii</Pnumber>
<P4para>
<Text>
in Scotland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of section 289B of the
<CommentaryRef Ref="c1481885"/>
Criminal Procedure (Scotland) Act 1975;
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/14/3/b/iii/1991-02-01" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3/b/iii" id="section-14-3-b-iii">
<Pnumber>
<Addition ChangeId="d30p6728" CommentaryRef="c1481886">iii</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="d30p6728" CommentaryRef="c1481886">in Northern Ireland, to a fine not exceeding £1,000 or, if it is greater, the prescribed sum within the meaning of Article 4 of the Fines and Penalties (Northern Ireland) Order 1984.</Addition>
</Text>
</P4para>
</P4>
</P3para>
</P3>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
</Part>
</Body>
</Primary>
<Commentaries>
<Commentary id="c1481578" Type="F">
<Para>
<Text>
Words inserted by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1990/1159" id="c00099" Class="UnitedKingdomStatutoryInstrument" Year="1990" Number="1159">S.I. 1990/1159</Citation>
,
<CitationSubRef id="c00100" URI="http://www.legislation.gov.uk/id/uksi/1990/1159/regulation/10/2" Operative="true" CitationRef="c00099" SectionRef="regulation-10-2">reg. 10(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481579" Type="F">
<Para>
<Text>
<CitationSubRef id="c00101" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/1/4A" SectionRef="section-1-4A">S. 1(4A)</CitationSubRef>
inserted by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1990/1159" id="c00102" Class="UnitedKingdomStatutoryInstrument" Year="1990" Number="1159">S.I. 1990/1159</Citation>
,
<CitationSubRef id="c00103" URI="http://www.legislation.gov.uk/id/uksi/1990/1159/regulation/10/3" Operative="true" CitationRef="c00102" SectionRef="regulation-10-3">reg. 10(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481580" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1974/52" id="c00104" Year="1974" Class="UnitedKingdomPublicGeneralAct" Number="52">1974 c. 52</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1481581" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1987/2130" id="c00105" Class="UnitedKingdomStatutoryInstrument" Year="1987" Number="2130">S.I. 1987/2130</Citation>
,
<CitationSubRef id="c00106" URI="http://www.legislation.gov.uk/id/uksi/1987/2130/regulation/2/a" Operative="true" CitationRef="c00105" SectionRef="regulation-2-a">reg. 2(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481605" Type="C">
<Para>
<Text>
<CitationSubRef id="c00177" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3" SectionRef="section-3">S. 3</CitationSubRef>
restricted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00178" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00179" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/129" CitationRef="c00178" SectionRef="section-129">s. 129</CitationSubRef>
,
<CitationSubRef id="c00180" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/10/paragraph/10/1" Operative="true" CitationRef="c00178" SectionRef="schedule-10-paragraph-10-1">Sch. 10 para. 10(1)</CitationSubRef>
</Text>
</Para>
<Para>
<Text>
<CitationSubRef id="c00181" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3" SectionRef="section-3">s. 3</CitationSubRef>
: power to exclude conferred by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00182" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00183" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/184/5" Operative="true" CitationRef="c00182" SectionRef="section-184-5">s. 184(5)</CitationSubRef>
</Text>
</Para>
<Para>
<Text>
<CitationSubRef id="c00184" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/3" SectionRef="section-3">s. 3</CitationSubRef>
modified (24.12.1996) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1996/3011" id="c00185" Class="UnitedKingdomStatutoryInstrument" Year="1996" Number="3011">S.I. 1996/3011</Citation>
,
<CitationSubRef id="c00186" URI="http://www.legislation.gov.uk/id/uksi/1996/3011/regulation/3/1/a" Operative="true" CitationRef="c00185" SectionRef="regulation-3-1-a">regs. 3(1)(a)</CitationSubRef>
,
<CitationSubRef id="c00187" URI="http://www.legislation.gov.uk/id/uksi/1996/3011/regulation/10/1" CitationRef="c00185" SectionRef="regulation-10-1">10(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481609" Type="C">
<Para>
<Text>
<CitationSubRef id="c00209" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/4" SectionRef="section-4">S. 4</CitationSubRef>
: power to exclude conferred by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00210" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00211" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/184/5" Operative="true" CitationRef="c00210" SectionRef="section-184-5">s. 184(5)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481610" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1981/31" id="c00212" Year="1981" Class="UnitedKingdomPublicGeneralAct" Number="31">1981 c. 31</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1481661" Type="F">
<Para>
<Text>
Figure substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c00337" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c00338" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c00337" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c00339" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c00337" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481662" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c00340" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c00341" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c00340" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c00342" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c00340" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481663" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c00343" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c00344" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c00343" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c00345" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c00343" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481664" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c00346" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c00347" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c00346" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c00348" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c00346" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481665" Type="F">
<Para>
<Text>
“15 per cent" substituted (12.1.1987 for the purpose mentioned in 1986/2246, Sch. 2 but otherwise (
<Emphasis>prosp.</Emphasis>
)) for “one-third" by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00349" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00350" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/134" Operative="true" CitationRef="c00349" SectionRef="section-134">s. 134</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481738" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1982/53" id="c00511" Year="1982" Class="UnitedKingdomPublicGeneralAct" Number="53">1982 c. 53</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1481768" Type="F">
<Para>
<Text>
Figure substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c00567" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c00568" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c00567" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c00569" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c00567" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481769" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c00570" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c00571" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c00570" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c00572" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c00570" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481770" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c00573" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c00574" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c00573" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c00575" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c00573" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481771" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c00576" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c00577" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c00576" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c00578" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c00576" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481772" Type="C">
<Para>
<Text>
<CitationSubRef id="c00579" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11" SectionRef="section-11">S. 11</CitationSubRef>
applied by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00580" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00581" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/98/4" CitationRef="c00580" SectionRef="section-98-4">ss. 98(4)</CitationSubRef>
,
<CitationSubRef id="c00582" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/129" CitationRef="c00580" SectionRef="section-129">129</CitationSubRef>
,
<CitationSubRef id="c00583" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/10/paragraph/9" Operative="true" CitationRef="c00580" SectionRef="schedule-10-paragraph-9">Sch. 10 para. 9</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481773" Type="F">
<Para>
<Text>
Words inserted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00584" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00585" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/129" CitationRef="c00584" SectionRef="section-129">s. 129</CitationSubRef>
,
<CitationSubRef id="c00586" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/10/paragraph/7/1" Operative="true" CitationRef="c00584" SectionRef="schedule-10-paragraph-7-1">Sch. 10 para. 7(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481774" Type="F">
<Para>
<Text>
<CitationSubRef id="c00587" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/11/2/aa" SectionRef="section-11-2-aa">S. 11(2)(aa)</CitationSubRef>
inserted by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1990/1333" id="c00588" Class="UnitedKingdomStatutoryInstrument" Year="1990" Number="1333">S.I. 1990/1333</Citation>
,
<CitationSubRef id="c00589" URI="http://www.legislation.gov.uk/id/uksi/1990/1333/regulation/8/1" Operative="true" CitationRef="c00588" SectionRef="regulation-8-1">reg. 8(1)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481870" Type="C">
<Para>
<Text>
<CitationSubRef id="c00793" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13" SectionRef="section-13">S. 13</CitationSubRef>
amended (1.1.1993) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1992/3218" id="c00794" Class="UnitedKingdomStatutoryInstrument" Year="1992" Number="3218">S.I. 1992/3218</Citation>
,
<CitationSubRef id="c00795" URI="http://www.legislation.gov.uk/id/uksi/1992/3218/regulation/64" Operative="true" CitationRef="c00794" SectionRef="regulation-64">reg.64</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481871" Type="F">
<Para>
<Text>
<CitationSubRef id="c00796" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/2A/2B" SectionRef="section-13-2A-2B">S. 13(2A)(2B)</CitationSubRef>
inserted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00797" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00798" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/129" CitationRef="c00797" SectionRef="section-129">s. 129</CitationSubRef>
,
<CitationSubRef id="c00799" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/10/paragraph/7/2" Operative="true" CitationRef="c00797" SectionRef="schedule-10-paragraph-7-2">Sch. 10 para. 7(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481872" Type="C">
<Para>
<Text>
<CitationSubRef id="c00800" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/13/2A" SectionRef="section-13-2A">S. 13(2A)</CitationSubRef>
applied by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/60" id="c00801" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="60" Title="Financial Services Act 1986">Financial Services Act 1986 (c. 60, SIF 69)</Citation>
,
<CitationSubRef id="c00802" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/98/4" CitationRef="c00801" SectionRef="section-98-4">ss. 98(4)</CitationSubRef>
,
<CitationSubRef id="c00803" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/section/129" CitationRef="c00801" SectionRef="section-129">129</CitationSubRef>
,
<CitationSubRef id="c00804" URI="http://www.legislation.gov.uk/id/ukpga/1986/60/schedule/10/paragraph/9" Operative="true" CitationRef="c00801" SectionRef="schedule-10-paragraph-9">Sch. 10 para. 9</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481850" Type="F">
<Para>
<Text>
<CitationSubRef id="c00832" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/12A" SectionRef="section-12A">S. 12A</CitationSubRef>
inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c00833" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c00834" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/11" Operative="true" CitationRef="c00833" SectionRef="regulation-11">reg. 11</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1481883" Type="F">
<Para>
<Text>
Words repealed by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1984/703" id="c00868" Class="NorthernIrelandOrderInCouncil" Year="1984" Number="703">S.I. 1984/703 (N.I. 3)</Citation>
,
<CitationSubRef id="c00869" URI="http://www.legislation.gov.uk/id/nisi/1984/703/article/19/1/2" CitationRef="c00868" SectionRef="article-19-1-2">art. 19(1)(2)</CitationSubRef>
,
<CitationSubRef id="c00870" URI="http://www.legislation.gov.uk/id/nisi/1984/703/schedule/6/paragraph/30" Operative="true" CitationRef="c00868" SectionRef="schedule-6-paragraph-30">Sch. 6 para. 30</CitationSubRef>
(
<Emphasis>a</Emphasis>
), Sch. 7
</Text>
</Para>
</Commentary>
<Commentary id="c1481884" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1980/43" id="c00871" Year="1980" Class="UnitedKingdomPublicGeneralAct" Number="43">1980 c. 43</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1481885" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1975/21" id="c00872" Year="1975" Class="UnitedKingdomPublicGeneralAct" Number="21">1975 c. 21</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1481886" Type="F">
<Para>
<Text>
<CitationSubRef id="c00873" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/14/3" SectionRef="section-14-3">S. 14(3)</CitationSubRef>
(
<Emphasis>b</Emphasis>
)(iii) substituted for words by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1984/703" id="c00874" Class="NorthernIrelandOrderInCouncil" Year="1984" Number="703">S.I. 1984/703 (N.I. 3)</Citation>
,
<CitationSubRef id="c00875" URI="http://www.legislation.gov.uk/id/nisi/1984/703/article/19/1" CitationRef="c00874" SectionRef="article-19-1">art. 19(1)</CitationSubRef>
,
<CitationSubRef id="c00876" URI="http://www.legislation.gov.uk/id/nisi/1984/703/schedule/6/paragraph/30" Operative="true" CitationRef="c00874" SectionRef="schedule-6-paragraph-30">Sch. 6 para. 30</CitationSubRef>
(
<Emphasis>b</Emphasis>
)
</Text>
</Para>
</Commentary>
</Commentaries>
</Legislation>