Chwilio Deddfwriaeth

Insurance Companies Act 1982 (repealed)

 Help about what version

Pa Fersiwn

 Help about advanced features

Nodweddion Uwch

 Help about opening options

Dewisiadau AgorExpand opening options

Changes over time for: Cross Heading: Powers of intervention

 Help about opening options

Version Superseded: 01/12/2001

Alternative versions:

Status:

Point in time view as at 05/01/1998.

Changes to legislation:

Insurance Companies Act 1982 (repealed), Cross Heading: Powers of intervention is up to date with all changes known to be in force on or before 30 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Powers of interventionU.K.

20(1)Where it appears to the [F2Treasury] that an EFTA company providing insurance in the United Kingdom has failed to comply with any provision of this Act, [F3they] may require it to take such steps as [they] may specify to comply with that provision.

(2)If the company fails to comply with a requirement under sub-paragraph (1) above, the [F2Treasury] shall notify the supervisory authority in the EEA State in which the establishment through which the insurance is provided is situated.

(3)If the company persists in contravening a provision which has been the subject of arequirement under sub-paragraph (1) above, the [F2Treasury] may, after informing that supervisory authority, direct the company to cease to provide insurance, or insurance of any specified description, in the United Kingdom.

(4)After giving such a direction, the [F2Treasury] shall by notice in writing inform the company of [F4their] reasons for doing so.

(5)A direction under this paragraph does not prevent the company from effecting a contract ofinsurance in pursuance of a term of a subsisting contract of insurance.

(6)A requirement or direction under this paragraph may be varied or revoked by the [F2Treasury].

Textual Amendments

F2Word in Sch. 2F para. 20 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)

F3Word in Sch. 2F para. 20(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 83(a) (with art. 7)

F4Word in Sch. 2F para. 20(4) substituted (5.1.1998) by S.I. 1997/2781, art.8, Sch. Pt. I para. 83(b) (with art. 7)

Yn ôl i’r brig

Options/Help

You have chosen to open The Whole Act

The Whole Act you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?

You have chosen to open The Whole Act as a PDF

The Whole Act you have selected contains over 200 provisions and might take some time to download.

Would you like to continue?

You have chosen to open y Ddeddf Gyfan

Y Ddeddf Gyfan you have selected contains over 200 provisions and might take some time to download. You may also experience some issues with your browser, such as an alert box that a script is taking a long time to run.

Would you like to continue?