The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993

Interpretation

2.—(1) In these Regulations—

“the 1985 Act” means the Companies Act 1985(1);

“director” includes, in the case of a body which is not a company, any corresponding officer of that body;

“enactment” includes any subordinate legislation within the meaning of section 21(1) of the Interpretation Act 1978(2), other than these Regulations;

“industrial and provident society” means a registered society within the meaning given by section 74 of the Industrial and Provident Societies Act 1965(3);

“qualifying body” shall be construed in accordance with paragraphs (2) and (3) below;

and other expressions shall have the meanings ascribed to them by the 1985 Act.

(2) Subject to paragraph (3) below, a body incorporated in or formed under the law of any part of Great Britain is a qualifying body for the purposes of these Regulations if it—

(a) is incorporated by or registered under any public general Act of Parliament,

(b) is required to be authorised under section 2 of the Insurance Companies Act 1982(4), and

(c) is not required by any enactment to prepare accounts under Part VII of the 1985 Act (accounts and audit).

(3) A body is not a qualifying body for the purposes of these Regulations if it—

(a) is excluded from the scope of Council Directive 73/239/EEC(5) by Article 3 of that Directive, or

(b) is referred to in Article 2(2) or (3) or 3 of Council Directive 79/267/EEC(6).

(4) Any reference in these Regulations to the accounts required by or prepared under regulation 3 below are references to the annual accounts, the annual report and the auditors' report required by or prepared under paragraph (1) of that regulation.

(1)

1985 c. 6; the 1985 Act, and in particular Part VII of that Act dealing with accounts and audit, has been substantially amended by the Companies Act 1989 (c. 40) and by the Companies Act 1985 (Insurance Companies Accounts) Regulations 1993 (S.I. 1993/3246).

(2)

1978 c. 30.

(3)

1965 c. 12.

(4)

1982 c. 50.

(5)

Official Journal No. L228 of 16.8.1973, page 3.

(6)

Official Journal No. L63 of 13.3.1979, page 1.