1(1)For the purposes of section 111(2) the appropriate certificates, in relation to an insurance business transfer scheme, are—U.K.
(a)a certificate under paragraph 2;
(b)if sub-paragraph (2) applies, a certificate under paragraph 3;
(c)if sub-paragraph (3) applies, a certificate under paragraph 4;
(d)if sub-paragraph (4) applies, a certificate under paragraph 5[F1;
(e) if sub-paragraph (5) applies, the certificates under paragraph 5A.]
(2)This sub-paragraph applies if—
(a)[F2the transferor concerned] is a UK authorised person which has received authorisation under [F3Article 4 of the life assurance consolidation directive or Article 6] or of the first non-life insurance directive from [F4the appropriate regulator]; and
(b)the establishment from which the business is to be transferred under the proposed insurance business transfer scheme is in an EEA State other than the United Kingdom.
(3)This sub-paragraph applies if—
(a)[F2the transferor concerned] has received authorisation under [F5Article 4 [F6or Article 51] of the life assurance consolidation directive] from [F4the appropriate regulator];
(b)the proposed transfer relates to business which consists of the effecting or carrying out of contracts of long-term insurance; and
(c)as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), an EEA State other than the United Kingdom is the State of the commitment.
(4)This sub-paragraph applies if—
(a)[F2the transferor concerned] has received authorisation under Article 6 [F7or Article 23] of the first non-life insurance directive from [F4the appropriate regulator];
(b)the business to which the proposed insurance business transfer scheme relates is business which consists of the effecting or carrying out of contracts of general insurance; and
(c)as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), the risk is situated in an EEA State other than the United Kingdom.
[F8(5)This sub-paragraph applies if—
(a)[F2the transferor concerned] has received authorisation under Article 23 of the first non-life insurance directive or Article 51 of the life assurance consolidation directive from [F4the appropriate regulator]; and
(b)the proposed transfer is to a branch or agency, in an EEA State other than the United Kingdom, authorised under the same Article.]
Textual Amendments
F1Sch. 12 para. 1(1)(e) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 2(1), Sch. 1 para. 2(5)(a)
F2Words in Sch. 12 substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 2; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1
F3Words in Sch. 12 para. 1(2)(a) substituted (11.1.2005) by The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004 (S.I. 2004/3379), reg. 6(7)(a)(i)
F4Words in Sch. 12 para. 1 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 10 (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5Words in Sch. 12 para. 1(3)(a) substituted (11.1.2005) by The Life Assurance Consolidation Directive (Consequential Amendments) Regulations 2004 (S.I. 2004/3379), reg. 6(7)(a)(ii)
F6Words in Sch. 12 para. 1(3)(a) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 2(1), Sch. 1 para. 2(5)(b)
F7Words in Sch. 12 para. 1(4)(a) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 2(1), Sch. 1 para. 2(5)(c)
F8Sch. 12 para. 1(5) inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 2(1), Sch. 1 para. 2(5)(d)
Modifications etc. (not altering text)
C1Sch. 12 Pt. I para. 1(2)(a)(3)(a)(4)(a) modified (1.12.2001) by S.I. 2001/3626, arts. 1, 5(2)