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This is the original version (as it was originally made). This item of legislation is currently only available in its original format.
Grounds for exercising supervisory powers
2.—(1) In the following provisions of the 1982 Act, namely–
(a)subsection (2)(aa) of section 11() (withdrawal of authorisation in respect of new business: grounds);
(b)subsection (2)(b)(ia) of section 37() (powers of intervention: grounds: failure to satisfy obligations);
(c)subsections (1)(bb) and (2)(bb) of section 54() (winding up on petition of Secretary of State under the Insolvency Act 1986 or corresponding Northern Ireland provisions); and
(d)section 83A() (Lloyd’s underwriters – insurance Directives),
for the words “general insurance Directives” substitute the words “general or long term insurance Directives”.
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