- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
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4.—(1) Paragraph (2) applies where a general insurer (“the transferor”) transfers the whole or part of its general business to another body (“the transferee”) by—
(a)a transfer which is approved by the Treasury under Part II of Schedule 2C to the Insurance Companies Act 1982(1), or
(b)a transfer to which section 52B of that Act(2) (effect of transfers authorised in other EEA States) applies,
on or after the date on which these Regulations come into force.
(2) Where this paragraph applies, the transferor and the transferee shall be treated for the purposes of section 107(3) and regulation 3 as if—
(a)technical provisions made and taken into account by the transferor, so far as they relate to the general business transferred, had been made and taken into account by the transferee, and
(b)any other act or thing mentioned in Rules 1 to 9 in regulation 3(3) and regulation 5 which was done to or by the transferor, so far as it relates to the general business transferred, had been done to or by the transferee.
(3) Where Rule 4 in regulation 3(3) would apply but for the condition in paragraph (c) of Rule 4.1. not being satisfied, in a case falling within paragraph (b)(i) of Rule 4.1. the reinsurer, and in a case falling within paragraph (b)(ii) thereof the connected company (and the relevant person is referred to as “the transferee”), and the general insurer (as defined in that Rule), shall be treated for the purposes of section 107 and regulation 3 as if—
(a)technical provisions made and taken into account by the general insurer, so far as they relate to the liabilities reinsured, had been made and taken into account by the transferee,
(b)premiums paid under the contract were ignored, and
(c)any other act or thing mentioned in Rules 1 to 9 in regulation 3(3) and regulation 5 which was done to or by the general insurer, so far as it relates to the liabilities reinsured, had been done to or by the transferee.
1982 c. 31; Schedule 2C was inserted by Schedule 3 to S.I. 1994/1696.
Section 52B was inserted by regulation 30 of S.I. 1994/1696.
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