[F114U.K.The Commission shall not confirm a transfer of any engagements the fulfilment of which will constitute the carrying on in the United Kingdom of insurance business unless it is satisfied—
(a)that the proposed transferee will be able to fulfil the engagements without authorisation under Part I of the Insurance Companies Act 1982 or section 32 of this Act; or
(b)that there is no substantial risk that the proposed transferee will not have such authorisation as will permit it to fulfil them.]
Textual Amendments
F1Sch. 15 para. 14 omitted (17.8.2001 for specified purposes and otherwiseprosp.) by virtue of S.I. 2001/2617, arts. 2(a), 8(1), 13(1), Sch. 3 para. 128(r) (with art. 13(3), Sch. 5) and is repealed (prosp.) by S.I. 2001/3538, art. 2(1)