Yn ddilys o 01/07/1994
Textual Amendments
F1Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6
Modifications etc. (not altering text)
C1Sch. 2F: Power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 60
26(1)In this Schedule—
“authorised agent”, in relation to an EC company, means an agent or employee of the company who has authority—
(a)to bind the company in its relations with third parties; and
(b)to represent the company in its relations with the supervisory authorities and courts in the United Kingdom;
“connected UK authority”, in relation to an EC company, means an authority in the United Kingdom which has regulatory functions in relation to the insurance business which the company proposes to carry on, or the insurance which it intends to provide, in the United Kingdom;
“direct insurance business” means insurance business other than reinsurance business.
(2)In this Schedule—
(a)references in Part I to the provision of insurance in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in the United Kingdom through an establishment in another member State;
(b)references in Part II to the provision of insurance in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in the United Kingdom through an establishment in another EEA State;
(c)references in Part III to the provision of insurance through an establishment in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in another EEA State through an establishment in the United Kingdom.
(3)In sub-paragraph 2(b) and (c) above—
(a)references to a risk do not include a risk falling within any of the following classes of Schedule 2 to this Act (general business), namely—
class 1, so far as it relates to accidents at work;
classes 9 and 13, so far as they relate to the compulsory insurance of building works;
class 13, so far as it relates to nuclear civil liability and pharmaceutical product liability; and
(b)references to a commitment do not include a commitment falling within any of classes VII, VIII and IX of Schedule 1 to this Act (long term insurance).
(4)An EC or EFTA company shall not be regarded for the purposes of Parts I and II of this Act as carrying on insurance business in the United Kingdom by reason only of the fact that it provides insurance in the United Kingdom.