Word in Sch. 2F para. 17 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)

Word in Sch. 2F para. 17(1)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(a) (with art. 7)

Word in Sch. 2F para. 17(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(b)(i) (with art. 7)

Word in Sch. 2F para. 17(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(b)(ii)(with art. 7)

Word in Sch. 2F para. 17(4) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(c) (with art. 7)

http://www.legislation.gov.uk/ukpga/1982/50/schedule/2F/paragraph/17Insurance Companies Act 1982 (repealed)An Act to consolidate the Insurance Companies Acts 1974 and 1981.1982-11-01texttext/xmlenStatute Law Database2011-05-272001-12-01 SCHEDULESSCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIESPART IEC COMPANIES CARRYING ON BUSINESS ETC. IN THE UNITED KINGDOM Power to withdraw recognition17(1)

This paragraph applies where—

(a)

an EC company is carrying on insurance business or providing insurance in the United Kingdom; and

(b)

the Treasuryare notified by the supervisory authority in the home State that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.

(2)

The Treasury may direct the company to cease to carry on insurance business or provide insurance, or to cease to carry on insurance business or provide insurance of a specified description, in the United Kingdom through all, or any specified, establishments.

(3)

Where the Treasuryreceivenotification under sub-paragraph (1) above they shall forthwith inform the connected UK authorities of its receipt.

(4)

After giving such a direction, the Treasury shall by notice in writing inform the company of their reasons for doing so.

(5)

A direction under this paragraph does not prevent the company from effecting or carrying outa contract of insurance in pursuance of a term of a subsisting contract of insurance.

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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1484089" marker="F1">
<p>
Word in
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substituted (5.1.1998) by
<ref eId="c06478" href="http://www.legislation.gov.uk/id/uksi/1997/2781">S.I. 1997/2781</ref>
,
<ref eId="c06479" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/8">art. 8</ref>
,
<ref eId="c06480" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1997/2781/schedule/part/I/paragraph/72">Sch. Pt. I para. 72</ref>
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1484090" marker="F2">
<p>
Word in
<ref eId="c06482" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1982/50/schedule/2F/paragraph/17/1/b">Sch. 2F para. 17(1)(b)</ref>
substituted (5.1.1998) by
<ref eId="c06483" href="http://www.legislation.gov.uk/id/uksi/1997/2781">S.I. 1997/2781</ref>
,
<ref eId="c06484" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/8">art. 8</ref>
,
<ref eId="c06485" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1997/2781/schedule/part/I/paragraph/82/a">Sch. Pt. I para. 82(a)</ref>
(with
<ref eId="c06486" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/7">art. 7</ref>
)
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1484093" marker="F3">
<p>
Word in
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substituted (5.1.1998) by
<ref eId="c06488" href="http://www.legislation.gov.uk/id/uksi/1997/2781">S.I. 1997/2781</ref>
,
<ref eId="c06489" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/8">art. 8</ref>
,
<ref eId="c06490" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1997/2781/schedule/part/I/paragraph/82/b/i">Sch. Pt. I para. 82(b)(i)</ref>
(with
<ref eId="c06491" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/7">art. 7</ref>
)
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<note ukl:Name="Commentary" ukl:Type="F" class="commentary F" eId="c1484094" marker="F4">
<p>
Word in
<ref eId="c06492" class="subref" href="http://www.legislation.gov.uk/id/ukpga/1982/50/schedule/2F/paragraph/17/3">Sch. 2F para. 17(3)</ref>
substituted (5.1.1998) by
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,
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,
<ref eId="c06495" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1997/2781/schedule/part/I/paragraph/82/b/ii">Sch. Pt. I para. 82(b)(ii)</ref>
(with art. 7)
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Word in
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substituted (5.1.1998) by
<ref eId="c06497" href="http://www.legislation.gov.uk/id/uksi/1997/2781">S.I. 1997/2781</ref>
,
<ref eId="c06498" class="subref" href="http://www.legislation.gov.uk/id/uksi/1997/2781/article/8">art. 8</ref>
,
<ref eId="c06499" class="subref operative" href="http://www.legislation.gov.uk/id/uksi/1997/2781/schedule/part/I/paragraph/82/c">Sch. Pt. I para. 82(c)</ref>
(with
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<dc:title>Insurance Companies Act 1982 (repealed)</dc:title>
<dc:description>An Act to consolidate the Insurance Companies Acts 1974 and 1981.</dc:description>
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<heading> SCHEDULES</heading>
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<ins class="first" ukl:ChangeId="d30p49119">
<noteRef href="#c1484019" uk:name="commentary" ukl:Name="CommentaryRef" class="commentary"/>
SCHEDULE 2F]
</ins>
</num>
<heading>
<ins class="last" ukl:ChangeId="d30p49119">
RECOGNITION IN THE UNITED KINGDOM OF
<abbr class="acronym" title="European Community">EC</abbr>
AND
<abbr class="acronym" title="European Free Trade Area">EFTA</abbr>
COMPANIES
</ins>
</heading>
<part eId="schedule-2F-part-I">
<num>PART I</num>
<heading>
<abbr class="acronym" title="European Community">EC</abbr>
COMPANIES CARRYING ON BUSINESS
<abbr title="et cetera" xml:lang="la">ETC.</abbr>
IN THE UNITED KINGDOM
</heading>
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<heading> Power to withdraw recognition</heading>
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<heading/>
<paragraph eId="schedule-2F-paragraph-17" uk:target="true" class="schProv1">
<num>17</num>
<subparagraph eId="schedule-2F-paragraph-17-1">
<num>(1)</num>
<intro>
<p>This paragraph applies where—</p>
</intro>
<level class="para1" eId="schedule-2F-paragraph-17-1-a">
<num>(a)</num>
<content>
<p>
an
<abbr class="acronym" title="European Community">EC</abbr>
company is carrying on insurance business or providing insurance in the United Kingdom; and
</p>
</content>
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<level class="para1" eId="schedule-2F-paragraph-17-1-b">
<num>(b)</num>
<content>
<p>
the
<ins class="first last" ukl:ChangeId="d30p51123" ukl:CommentaryRef="c1484089">
<noteRef uk:name="commentary" href="#c1484089" class="commentary"/>
Treasury
</ins>
<ins class="first last" ukl:ChangeId="d30p51126" ukl:CommentaryRef="c1484090">
<noteRef uk:name="commentary" href="#c1484090" class="commentary"/>
are
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notified by the supervisory authority in the home State that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.
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<num>(2)</num>
<content>
<p>
The
<ins class="first last" ukl:ChangeId="d30p51136" ukl:CommentaryRef="c1484089">
<noteRef uk:name="commentary" href="#c1484089" class="commentary"/>
Treasury
</ins>
may direct the company to cease to carry on insurance business or provide insurance, or to cease to carry on insurance business or provide insurance of a specified description, in the United Kingdom through all, or any specified, establishments.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2F-paragraph-17-3">
<num>(3)</num>
<content>
<p>
Where the
<ins class="first last" ukl:ChangeId="d30p51146" ukl:CommentaryRef="c1484089">
<noteRef uk:name="commentary" href="#c1484089" class="commentary"/>
Treasury
</ins>
<ins class="first last" ukl:ChangeId="d30p51149" ukl:CommentaryRef="c1484093">
<noteRef uk:name="commentary" href="#c1484093" class="commentary"/>
receive
</ins>
notification under sub-paragraph (1) above
<ins class="first last" ukl:ChangeId="d30p51153" ukl:CommentaryRef="c1484094">
<noteRef uk:name="commentary" href="#c1484094" class="commentary"/>
they
</ins>
shall forthwith inform the connected
<abbr class="acronym" title="United Kingdom">UK</abbr>
authorities of its receipt.
</p>
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<content>
<p>
After giving such a direction, the
<ins class="first last" ukl:ChangeId="d30p51163" ukl:CommentaryRef="c1484089">
<noteRef uk:name="commentary" href="#c1484089" class="commentary"/>
Treasury
</ins>
shall by notice in writing inform the company of
<ins class="first last" ukl:ChangeId="d30p51167" ukl:CommentaryRef="c1484096">
<noteRef uk:name="commentary" href="#c1484096" class="commentary"/>
their
</ins>
reasons for doing so.
</p>
</content>
</subparagraph>
<subparagraph eId="schedule-2F-paragraph-17-5">
<num>(5)</num>
<content>
<p>A direction under this paragraph does not prevent the company from effecting or carrying outa contract of insurance in pursuance of a term of a subsisting contract of insurance.</p>
</content>
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