- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (20/05/1993)
- Gwreiddiol (Fel y'i Deddfwyd)
Insurance Companies Act 1982 (repealed)
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Rhagor o Adnoddau
Changes over time for: Section 35B
No versions valid at: 20/05/1993
Alternative versions:
- 01/07/1994- Amendment
- 20/05/1993
Point in time - Stop date 01/12/2001- Amendment
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Insurance Companies Act 1982 (repealed), Section 35B is up to date with all changes known to be in force on or before 05 November 2024.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.
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Yn ddilys o 01/07/1994
[F135B Adequacy of premiums: long term business.U.K.
(1)Before entering into a contract of insurance the effecting of which constitutes the carrying on of long term business, a UK company shall satisfy itself that the aggregate of—
(a)the premiums payable under the contract and the income which will be derived from them; and
(b)any other resources of the company which will be available for the purpose,
will be sufficient, on reasonable actuarial assumptions, to meet all commitments arising under or in connection with the contract.
(2)A UK company shall not rely on other resources for the purposes of subsection (1) above in such a way as to jeopardise the solvency of the company in the long term.]
Textual Amendments
F1S. 35B inserted (1.7.1994) by S.I. 1994/1696, reg. 18
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