3. In paragraph (3)(f) of regulation 12 of the 1996 Regulations (risk groups for general business), after the words “Schedule 2C of the Act” insert “, or approved by the competent authority of another EEA State under Article 12 of Council Directive 92/49/EEC,”(1).
4. In sub-paragraph (b) of paragraph 17 of Schedule 1 to the 1996 Regulations, for “lines 21 to 47 of Form 14” substitute “lines 17 to 39 of Form 14”.
5.—(1) The forms contained in Schedule 1 to the 1996 Regulations shall be amended as follows.
(2) In paragraph 3(b)(2) of the instructions for completion of Form 13 (analysis of admissible assets), for the words “the United Kingdom branch of an external company (other than a pure reinsurer)” substitute “an EEA branch return of a United Kingdom deposit company”.
6.—(1) Paragraph 3 of Schedule 2 to the 1996 Regulations (currency) shall be amended as follows.
(2) In sub-paragraph 4(b) of paragraph 3, after the words “Canadian dollars” insert “, euros”.
(3) After sub-paragraph (5) of paragraph 3, insert–
“(6) For the purposes of sub-paragraph (1) above, “the currency of the country concerned”, in the case of a country participating in European Economic and Monetary Union shall mean–
(a)for forms completed in respect of a financial year ending before 31st December 1999, the currency of the country concerned as at 31st December 1998;
(b)for forms completed in respect of a financial year ending on or after 31st December 1999, the euro (whether or not the amounts reported on those forms relate to accident or underwriting years ending on or after 31st December 1999).”.
7. In sub-paragraph (1)(a) of paragraph 5 of Schedule 2 to the 1996 Regulations, for the words “an appropriately weighted average of European currencies” substitute “euros”.
8.—(1) The forms contained in Schedule 2 to the 1996 Regulations shall be amended as follows.
(2) In paragraph 4(3) of the instructions for the completion of Form 33 (underwriting year accounting reconciliation of gross claims and premiums for direct and facultative reinsurance), for “Form 20” substitute “Form 21”.
(3) Paragraph 8(4) of the instructions for the completion of Form 34 (underwriting year accounting: analysis of gross claims and premiums by risk group for direct insurance and facultative reinsurance) shall be omitted.
(4) In paragraph 1 of the instructions for completion of Form 36(5) (currency rates), for “column 1 to this form” substitute “the column to this form headed “No. of units to £ sterling””.
9. In paragraph 20(3)(6) of Schedule 4 to the 1996 Regulations, for the words “in accordance with paragraph 4” substitute “in accordance with paragraph 7”.
10. In paragraph 5 of the instructions for completion of Form 60 in Schedule 4 to the 1996 Regulations (long term business: required minimum margin), for the words “referred to in the supplementary note to Form 14 (made in accordance with the instruction 4 to that Form)” substitute “shown at line 63 to Form 14”.
O.J. L228, 11.8.92, p. 1.
Paragraph 3 was substituted by S.I. 1997/2911, reg. 5(3).
Paragraph 4 was inserted by S.I. 1997/2911, reg. 10(10).
Paragraph 8 was inserted by S.I. 1997/2911, reg. 10(11).
The instructions for the completion of Form 36 were inserted by S.I. 1997/2911, reg. 10(13).
Paragraph 20(3) was inserted by S.I. 1997/2911, reg. 15(3).