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SCHEDULES

[F1SCHEDULE 2B]U.K. RESTRICTION ON DISCLOSURE OF INFORMATION]

Textual Amendments

F1Sch. 2B inserted (1.7.1994) by S.I. 1994/1696, reg. 26(2), Sch. 2

Modifications etc. (not altering text)

C1Sch. 2B: Power to contract out functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 57

Sch. 2B: functions to be exercised by the Secretary of State and the Treasury concurrently (5.1.1998) by S.I. 1997/2781, art. 4(1)(h) (with art. 7)

PART IU.K. INFORMATION RELATING TO UK, EC AND NON-EC COMPANIES

Modifications etc. (not altering text)

C2Sch. 2B Pt. I applied (with modifications) (1.7.1994) by S.I. 1994/1696, reg. 66(1)(2)

Restriction on disclosureU.K.

1(1)Subject to the following provisions of this Part of this Schedule, information which—

(a)is restricted information for the purposes of this paragraph; and

(b)relates to the business or other affairs of a relevant person,

shall not be disclosed without the consent of the person from whom the information was obtained and, if different, the person to whom it relates.

(2)Subject to sub-paragraph (3) below, information is restricted information for the purposes of this paragraph if it was obtained by the Secretary of State for the purposes of, or in the discharge of, functions under this Act or any rules or regulations made under this Act (whether or not by virtue of any requirement to supply it made under those provisions).

(3)Information is not restricted information for the purposes of this paragraph if—

(a)it has been made available to the public from other sources, or

(b)it is information in the form of a summary or is information so framed as not to enable information relating to any particular person to be ascertained from it.

(4)The following are relevant persons for the purposes of this paragraph, namely—

(a)any UK, EC or non-EC company [F2or any member of Lloyd’s]; and

(b)any controller, manager, chief executive, general representative, agent or employee of such a company.

(5)Any person who discloses information in contravention of this paragraph shall be guilty ofan offence and liable—

(a)on conviction or indictment, to imprisonment for a term not exceeding two years or to a fine or to both;

(b)on summary conviction, to imprisonment for a term not exceeding three months or to a fine not exceeding the statutory maximum or to both.

Textual Amendments

F2Words in Sch. 2B para. 1(4)(a) inserted (30.12.1994) by S.I. 1994/3132, reg. 10(2)

Disclosure for facilitating discharge of functions by Secretary of StateU.K.

2Paragraph 1 above does not preclude the disclosure of information in any case in which disclosure is for the purpose of enabling or assisting the Secretary of State to discharge his functions under this Act or any rules or regulations made under this Act (whether or not by virtue of any requirement to supply it made under those provisions).

Disclosure for facilitating discharge of functions by other regulatory authoritiesU.K.

3(1)Paragraph 1 above does not preclude the disclosure by the Secretary of State to any person specified in the first column of the following Table if the Secretary of State considers that the disclosure would enable or assist that person to discharge the functions specified in relation to him in the second column of that Table.

TABLE
PersonFunctions

1The Secretary of State.

Functions under the Companies Act, the Company Securities (Insider Dealing) Act 1985 F3, the Insolvency Act 1986 F4, the Company Directors Disqualification Act 1986 F5, the Financial Services Act 1986 F6, or Part II, III or VII of the Companies Act 1989 F7.

2The Treasury.

Functions under the Financial Services Act 1986 or under Part III or VII of the Companies Act 1989.

3An inspector appointed under Part XIV of the Companies Act or section 94 or 177 of the Financial Services Act 1986.

Functions under that Part or that section.

4A person authorised to exercise powers under section 43A or 44 above, section 447 of the Companies Act, section 106 of the Financial Services Act 1986 or section 84 of the Companies Act 1989.

Functions under that section.

5The Friendly Societies Commission, the Registrar of Friendly Societies for Northern Ireland and the Assistant Registrar of Friendly Societies for Scotland.

Functions under the enactments relating to friendly societies or under the Financial Services Act 1986.

6The Industrial Assurance Commissioner or the Industrial Assurance Commissioner for Northern Ireland.

Functions under the enactments relating to industrial assurance.

7The Building Societies Commission.

Functions under the Building Societies Act 1986 F8 and protecting the interests of the shareholders and depositors of building societies.

8The Director General of Fair Trading.

Functions under the Fair Trading Act 1973 F9 except Part II, the Consumer Credit Act 1974 F10, the Restrictive Trade Practices Act 1976 F11, the Estate Agents Act 1979 F12, the Competition Act 1980 F13 or the Control of Misleading Advertisements Regulations 1988 F14.

9A designated agency (within the meaning of the Financial Services Act 1986).

Functions under that Act or Part VII of the Companies Act 1989.

10A transferee body (within the meaning of the Financial Services Act 1986) or the competent authority (within the meaning of that Act).

Functions under that Act.

11Any of the following (within the meaning of the Financial Services Act 1986), namely, a recognised self-regulating organisation, a recognised investment exchange, a recognised professional body and a recognised clearing house.

Functions in its capacity as a recognised self-regulating organisation, recognised investment exchange, recognised professional body or a recognised clearing house.

12The Department of Economic Development in Northern Ireland.

Functions under enactments relating to companies or insolvency.

13An inspector appointed by the Department of Economic Development in Northern Ireland under enactments relating to companies or insolvency.

Functions under those enactments.

14A person authorised to exercise powers under Article 440 of the Companies (Northern Ireland) Order 1986 F15. . ..

Functions under that Article F15. . ..

15An official receiver.

Functions under enactments relating to insolvency.

16The Panel on Take-overs and Mergers.

All functions.

17The Bank of England.

All functions.

18A body administering a scheme under section 54 of the Financial Services Act 1986.

Functions under the scheme.

19A body established by order under section 46 of the Companies Act 1989.

Functions under Part II of that Act.

20A supervisory body (as defined in section 30 of the Companies Act 1989) or a qualifying body (as defined in section 32 of that Act).

Functions under that Act.

21The Occupational Pensions Board.

Functions in respect of insurance companies or other credit and financial institutions.

22The Council of Lloyd’s, the Committee of Lloyd’s or the Disciplinary Committee or Appeal Tribunal established under the Lloyd’s Act 1982 F16.

Functions under the Lloyd’s Acts 1871 to 1982 and functions under bye-laws made under those Acts.

23The Tribunal under the Prevention of Fraud (Investments) Act 1958 F17.

Functions under that Act.

24The Monopolies and Mergers Commission.

Functions under the Fair Trading Act 1973 and the Competition Act 1980.

[F1825An auditor appointed under section 21 above, section 384 of the Companies Act 1985 or section 107 of the Financial Services Act 1986 or a person approved under section 108 of the Financial Services Act 1986.

All functions.

26A recognised supervisory body (within the meaning of Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990).

Functions in its capacity as such a body under that Part, or functions in relation to disciplinary proceedings against auditors.

27A recognised professional body (within the meaning of section 391 of the Insolvency Act 1986 or Article 350 of the Insolvency (Northern Ireland) Order 1989).

Functions in its capacity as such a body under that Act or that Order, or functions in relation to disciplinary proceedings against insolvency practitioners (within the meaning of that Act or that Order).

28An actuary exercising functions under this Act.

Those functions.

29The Institute of Actuaries or the Faculty of Actuaries.

Supervisory functions in relation to an actuary exercising functions under this Act.]

(2)Paragraph 1 above does not preclude the disclosure by any person specified in the first column of the Table in sub-paragraph (1) above of information obtained by him by virtue of that sub-paragraph if he makes the disclosure—

(a)with the consent of the Secretary of State; and

(b)for the purpose of enabling or assisting him to discharge any functions specified in relation to him in the second column of that Table;

and before deciding whether to give consent to such a disclosure by any person the Secretary of State shall take account of any representations made by that person as to the desirability of or the necessity for the disclosure.

(3)Paragraph 1 above does not preclude—

(a)the disclosure of information to the Treasury; or

(b)the disclosure of information to the Secretary of State for purposes other than those specified in relation to him in sub-paragraph (1) above,

if (in either case) disclosure is in accordance with Article 16(6) of the third general insurance Directive, or Article 15(6) of the third long term insurance Directive.

(4)Paragraph 1 above does not preclude the disclosure of information for the purpose of enabling or assisting any public or other authority not specified in the first column of the Table in sub-paragraph (1) above to discharge any functions if disclosure is in accordance with Article 16 of the third general insurance Directive, or Article 15 of the third long term insurance Directive.

(5)Paragraph 1 above does not preclude the disclosure of information for the purpose of enabling or assisting an authority in a country or territory outside the United Kingdom to exercise functions corresponding to those of—

(a)the Bank of England;

(b)the Secretary of State under this Act or the Financial Services Act 1986;

(c)the designated agency under that Act or rules or regulations made under that Act; or

(d)the competent authority under Part IV of that Act.

(6)Sub-paragraph (5) above does not apply in relation to disclosure to an authority which is not an authority in another member State unless the Secretary of State is satisfied that the authority is subject to restrictions on further disclosures at least equivalent to those imposed by this Part of this Schedule.

(7)Information which is disclosed to a person in pursuance of sub-paragraph (1) or (2) above shall not be used otherwise than for the purpose mentioned in that sub-paragraph.

(8)Any person who uses information in contravention of sub-paragraph (7) above shall be liable on summary conviction to imprisonment for a term not exceeding three months or to a fine not exceeding level 5 on the standard scale or to both.

(9)[F19Subject to sub-paragraph (10) below,] any reference in this paragraph to enabling or assisting any person to discharge or exercise any functions is a reference to enabling or assisting that person to discharge or exercise those functions in relation to—

(a)a financial market; or

(b)persons carrying on the business of banking or insurance, Consumer Credit Act businesses or the business of providing other financial services;

and in this sub-paragraph “Consumer Credit Act business" has the same meaning as in the Banking Coordination (Second Council Directive) Regulations 1992 F20.

[F21(10)Sub-paragraph (9) above shall not apply in relation to references to enabling or assisting the discharge or exercise of the following functions, namely—

(a)functions of the Secretary of State under Part XIV of the Companies Act 1985, Part XIII of the Insolvency Act 1986 or Part II of the Companies Act 1989 or, so far as relating to the breach of any law relating to companies, under section 83 of the Companies Act 1989;

(b)functions of an inspector under Part XIV of the Companies Act 1985 or, so far as relating to offences involving securities of a company, under section 177 of the Financial Services Act 1986;

(b)functions of a person authorised to exercise powers under section 84 of the Companies Act 1989, so far as relating to the breach of any law relating to companies;

(d)functions of the Department of Economic Development in Northern Ireland under Part XV of the Companies (Northern Ireland) Order 1986, Part XII of the Insolvency (Northern Ireland) Order 1989 or Part III of the Companies (Northern Ireland) Order 1990;

(e)functions of an inspector under Part XV of the Companies (Northern Ireland) Order 1986;

(f)functions of a recognised professional body (within the meaning of section 391 of the Insolvency Act 1986 or Article 350 of the Insolvency (Northern Ireland) Order 1989);

(g)functions of a recognised supervisory body (within the meaning of Part II of the Companies Act 1989 or Part III of the Companies (Northern Ireland) Order 1990).]

Textual Amendments

F15Words in entry 14 of the Table in Sch. 2B para. 3(1) omitted (18.7.1996) by virtue of S.I. 1996/1669, reg. 23, Sch. 5 para. 9

F18Entries 25-29 in the Table in Sch. 2B para. 3(1) substituted (18.7.1996) for Entry 25 by S.I. 1996/1669, reg. 20(1)

F19Words in Sch. 2B para. 3(9) inserted (18.7.1996) by S.I. 1996/1669, reg. 20(2)

Other permitted disclosuresU.K.

4(1)Paragraph 1 above does not preclude the disclosure of information—

(a)for the purpose of enabling or assisting the Deposit Protection Board to discharge its functions under the Banking Act 1987 F22;

(b)with a view to the institution of, or otherwise for the purposes of, any criminal proceedings, whether under this Act or otherwise;

(c)for the purpose of enabling or assisting the Council of the Stock Exchange to discharge its functions in relation to insurance companies;

(d)with a view to the institution of, or otherwise for the purposes of, proceedings under section 6, 7 or 8 of the Company Directors Disqualification Act 1986 F23 in respect of a director or former director of an insurance company;

(e)with a view to the institution of, or otherwise for the purposes of, any civil proceedings arising under or by virtue of the Financial Services Act 1986 or proceedings before the Financial Services Tribunal, if those proceedings relate to an insurance company;

(f)with a view to the institution of, or otherwise for the purposes of, any disciplinary proceedings relating to the exercise by an auditor or actuary of his professional duties;

(g)in pursuance of a Community obligation.

(2)Paragraph 1 above does not preclude the disclosure by the Secretary of State to the Director of Public Prosecutions, the Director of Public Prosecutions for Northern Ireland, the Lord Advocate, a procurator fiscal or a constable of—

(a)information obtained by virtue of section 43A, 44 or 44A above; or

(b)information in the possession of the Secretary of State as to any suspected contravention in relation to which the powers conferred by those sections are exercisable.

Textual Amendments

Information supplied by a supervisory authorityU.K.

5(1)Paragraph 1 above applies also to information which—

(a)has been supplied to the Secretary of State for the purposes of any relevant functions by a supervisory authority in a member State other than the United Kingdom; or

(b)has been obtained for those purposes by the Secretary of State, or by a person acting on his behalf, in another member State.

(2)Subject to sub-paragraphs (3) and (4) below, information supplied or obtained as mentionedin sub-paragraph (1)(a) or (b) above shall not be disclosed except as provided by paragraph 1 above or—

(a)for the purpose of enabling or assisting the Secretary of State to discharge any relevant functions; or

(b)with a view to the institution of, or otherwise for the purposes of, criminal proceedings, whether under this Act or otherwise.

(3)Information supplied as mentioned in sub-paragraph (1)(a) above may be disclosed—

(a)to a relevant recipient, if the supervisory authority which supplied the information consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(1) above; or

(b)to the Treasury or the Secretary of State, if that authority consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(3) above.

(4)Information obtained as mentioned in sub-paragraph (1)(b) above may be disclosed—

(a)to a relevant recipient, if the supervisory authority in the member State concerned consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(1) above; or

(b)to the Treasury or the Secretary of State, if that authority consents to its disclosure and the case is one in which information to which paragraph 1 above applies could be so disclosed by virtue of paragraph 3(3) above.

[F24(4A)Before the Secretary of State discloses information to any person under sub-paragraph (3) above, he shall notify the supervisory authority which supplied the information of the name and responsibilities of that person.]

(5)In this paragraph—

“relevant functions", in relation to the Secretary of State, means his functions under this Act;

“relevant recipient" means a person specified in any of entries 1 to 7, 12, 13 and 17 in the Table in paragraph 3(1) above.

Textual Amendments

SCHEDULES

Section 1.

SCHEDULE 1U.K. Classes of Long Term Business

NumberDescriptionNature of business
ILife and annuity.Effecting and carrying out contracts of insurance on human life or contracts to pay annuities on human life, but excluding (in each case) contracts within Class III below.
IIMarriage and birth.Effecting and carrying out contracts of insurance to provide a sum on marriage or on the birth of a child, being contracts expressed to be in effect for a period of more than one year.
IIILinked long term.Effecting and carrying out contracts of insurance on human life or contracts to pay annuities on human life where the benefits are wholly or partly to be determined by reference to the value of, or the income from, property of any description (whether or not specified in the contracts) or by reference to fluctuations in, or in an index of, the value of property of any description (whether or not so specified).
IVPermanent health.Effecting and carrying out contracts of insurance providing specified benefits against risks of persons becoming incapacitated in consequence of sustaining injury as a result of an accident or of an accident of a specified class or of sickness or infirmity, being contracts that—
(a) are expressed to be in effect for a period of not less than five years, or until the normal retirement age for the persons concerned, or without limit of time, and
(b) either are not expressed to be terminable by the insurer, or are expressed to be so terminable only in special circumstances mentioned in the contract.
VTontines.Effecting and carrying out tontines.
VICapital redemption.Effecting and carrying out capital redemption contracts.
VIIPension fund management.Effecting and carrying out—
(a) contracts to manage the investments of pension funds, or
(b) contracts of the kind mentioned in paragraph (a) above that are combined with contracts of insurance covering either conservation of capital or payment of a minimum interest.
[F25VIIICollective insurance etc.Effecting and carrying out contracts of a kind referred to in Article 1(2)(e) of the first long term insurance Directive.
IXSocial insuranceEffecting and carrying out contracts of a kind referred to in Article 1(3) of the first long term insurance Directive.]

Textual Amendments

F25Classes VIII, IX in Sch. 1 inserted (1.7.1994) by S.I. 1994/1696, reg. 3

Sections 1 and 3.

SCHEDULE 2U.K. General Business

Part IU.K. Classes

NumberDescriptionNature of business
1Accident.Effecting and carrying out contracts of insurance providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of both) against risks of the person insured or, in the case of a contract made by virtue of section 140, 140A or 140B of the Local Government Act 1972, a person for whose benefit the contract is made—
(a) sustaining injury as the result of an accident or of an accident of a specified class, or
(b)dying as the result of an accident or of an accident of a specified class, or
(c)becoming incapacitated in consequence of disease or of disease of a specified class,
inclusive of contracts relating to industrial injury and occupational disease but exclusive of contracts falling within class 2 below or within class IV in Schedule 1 to this Act (permanent health).
2Sickness.Effecting and carrying out contracts of insurance providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of the two) against risks of loss to the persons insured attributable to sickness or infirmity, but exclusiove of contracts falling within class IV in Schedule 1 to this Act.
3Land vehicles.Effecting and carrying out contracts of insurance against loss of or damage to vehicles used on land, including motor vehicles but excluding railway rolling stock.
4Railway rolling stock.Effecting and carrying out contracts of insurance against loss of or damage to railway rolling stock.
5Aircraft.Effecting and carrying out contracts of insurance upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft.
6Ships.Effecting and carrying out contracts of insurance upon vessels used on the sea or on inland water, or upon the machinery, tackle, furniture or equipment of such vessels.
7Goods in transit.Effecting and carrying out contracts of insurance against loss of or damage to merchandise, baggage and all other goods in transit, irrespective of the form of transport.
8Fire and natural forces.Effecting and carrying out contracts of insurance against loss of or damage to property (other than property to which classes 3 to 7 above relate) due to fire, explosion, storm, natural forces other than storm, nuclear energy or land subsidence.
9Damage to property.Effecting and carrying out contracts of insurance against loss of or damage to property (other than property to which classes 3 to 7 above relate) due to hail or frost or to any event (such as theft) other than those mentioned in class 8 above.
10Motor vehicle liability.Effecting and carrying out contracts of insurance against damage arising out of or in connection with the use of motor vehicles on land, including third-party risks and carrier’s liability.
11Aircraft liability.Effecting and carrying out contracts of insurance against damage arising out of or in connection with the use of aircraft, including third-party risks and carrier’s liability.
12Liability for ships.Effecting and carrying out contracts of insurance against damage arising out of or in connection with the use of vessels on the sea or on inland water, including third-party risks and carrier’s liability.
13General liability.Effecting and carrying out contracts of insurance against risks of the persons insured incurring liabilities to third parties, the risks in question not being risks to which class 10, 11 or 12 above relates.
14Credit.Effecting and carrying out contracts of insurance against risks of loss to the persons insured arising from the insolvency of debtors of theirs or from the failure (otherwise than through insolvency) of debtors of theirs to pay their debts when due.
15Suretyship.Effecting and carrying out—
(a) contracts of insurance against risks of loss to the persons insured arising from their having to perform contracts of guarantee entered into by them;
(b) contracts for fidelity bonds, performance bonds, administration bonds, bail bonds or customs bonds or similar contracts of guarantee.
16Miscellaneous financial loss.Effecting and carrying out contracts of insurance against any of the following risks, namely—
(a) risks of loss to the persons insured attributable to interruptions of the carrying on of business carried on by them or to reduction of the scope of business so carried on;
(b) risks of loss to the persons insured attributable to their incurring unforeseen expense [F26(other than loss such as is covered by contracts falling within class 18 below)];
(c) risks neither falling within paragraph (a) or (b) above nor being of a kind such that the carrying on of the business of effecting and carrying out contracts of insurance against them constitutes the carrying on of insurance business of some other class.
17Legal expenses.Effecting and carrying out contracts of insurance against risks of loss to the persons insured attributable to their incurring legal expenses (including costs of litigation).
[F2718][F27Assistance][F27Effecting and carrying out contracts of insurance providing either or both of the following benefits, namely—]
[F27(a) assistance (whether in cash or in kind) for persons who get into difficulties while travelling, while away from home or while away from their permanent residence, or]
[F27(b) assistance (whether in cash or in kind) for persons who get into difficulties otherwise than as mentioned in paragraph (a) above.]

Textual Amendments

F27Class 18 added by S.I. 1987/2130, reg. 2(b)(ii)

Part IIU.K. Groups of Classes

Modifications etc. (not altering text)

NumberDescriptionNature of business
1Accident and health.Classes 1 and 2.
2Motor.Class 1 (to the extent that the relevant risks are risks of the person insured sustaining injury, or dying, as the result of travelling as a passenger) and classes 3, 7 and 10.
3Marine and transport.Class 1 (to the said extent) and classes 4, 6, 7 and 12.
4Aviation.Class 1 (to the said extent) and classes 5, 7 and 11.
5Fire and other damage to property.Classes 8 and 9.
6Liability.Classes 10, 11, 12 and 13.
7Credit and suretyship.Classes 14 and 15.
8General.All classes.

Section 7.

[F28SCHEDULE 3U.K. Determination of Premium Limit]

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F28Sch. 3 ceased to have effect (1.7.1994) by virtue of S.I. 1994/1696, regs. 7(2), 68(3)

[F29SCHEDULE 3AU.K. Law applicable to certain contracts of insurance]

Textual Amendments

[F30PART IU.K. general BUSINESS]

Textual Amendments

F30By virtue of S.I. 1993/174, reg. 5(4)(5) the provisions of Sch. 3A have become (20.5.1993) Pt. I of that Sch. under that heading “GENERAL BUSINESS” and Pt. II of Sch. 3A inserted

X1 General rules as to applicable lawU.K.

Editorial Information

X1The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

X21(1)Where the policy holder has his habitual residence or central administration within the territory of the member State where the risk is situated, the law applicable to the contract is the law of that member State.

However, where the law of that member State so allows, the parties may choose the law of another country.

(2)Where the policy holder does not have his habitual residence or central administration within the territory of the member State where the risk is situated, the parties to the contract may choose to apply either—

(a)the law of the member State where the risk is situated, or

(b)the law of the country in which the policy holder has his habitual residence or central administration.

(3)Where the policy holder carries on a business and the contract covers two or more risks relating to his business which are situated in different member States, the freedom of choice of the law applicable to the contract extends to the laws of those member States and of the country in which he has his habitual residence or central administration.

In this sub-paragraph “business” includes a trade or profession.

(4)Where the member States referred to in sub-paragraph (2) or (3) grant greater freedom of choice of the law applicable to the contract, the parties may take advantage of that freedom.

(5)Notwithstanding sub-paragraphs (1) to (3), when the risks covered by the contract are limited to events occurring in a member State other than the member State where the risk is situated, the parties may always choose the law of the former State.

[F31(6)Where the risk—

(a)is situated in an EFTA state and falls within class 4, 5, 6, 7, 11 or 12 of Part I of Schedule 2 to this Act; or

(b)is situated in a member State and is a large risk,

the parties to the contract may choose any law.

(7)Where the risk is situated in a member State which has implemented the transitional provisions in Article 27 of the second general insurance Directive, the meaning of 'large risk’ for the purposes of sub-paragraph (6) above shall be determined in accordance with the law applicable in that State.]

Editorial Information

X2The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading

Textual Amendments

F31Sch. 3A para. 1(6)(7) substituted (1.7.1994) for Sch. 3A para. 1(6) by S.I. 1994/1696, reg. 49

X3 Applicable law in the absence of choiceU.K.

Editorial Information

X3The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

X42(1)The choice referred to in paragraph 1 must be expressed or demonstrated with reasonable certainty by the terms of the contract or the circumstances of the case.

(2)If that is not so, or if no choice has been made, the contract shall be governed by the law of the country (from amongst those considered in the relevant sub-paragraphs) with which it is most closely connected.

(3)Nevertheless, a severable part of the contract which has a closer connection with another country (from amongst those considered in the relevant sub-paragraphs) may by way of exception be governed by the law of that other country.

(4)A contract is rebuttably presumed to be most closely connected with the member State where the risk is situated.

Editorial Information

X4The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

X5 Mandatory rulesU.K.

Editorial Information

X5The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

X63(1)The fact that in the cases referred to in paragraph 1 the parties have chosen a law does not, where all the other elements relevant to the situation at the time of the choice are connected with one member State only, prejudice the application of the mandatory rules of the law of that member State, which means the rules from which the law of that member State allows no derogation by means of a contract.

(2)Nothing in [F32this Part of this Schedule]restricts the application of the rules of a part of the United Kingdom in a situation where they are mandatory, irrespective of the law otherwise applicable to the contract.

Editorial Information

X6The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

Textual Amendments

F32Words in Sch. 3 paras. 3(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(a)

X7 Supplementary provisionsU.K.

Editorial Information

X7The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

X84(1)Where a member State includes several territorial units, each of which has its own rules of law concerning contractual obligations, each unit shall be considered as a country for the purposes of identifying the applicable law.

(2)The provisions of [F33this Part of this Schedule]apply to conflicts between the laws of the different parts of the United Kingdom.

Editorial Information

X8The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

Textual Amendments

F33Words in Sch. 3, para. 4(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(a)

X95(1)Subject to the preceding provisions of [F34this Part of this Schedule], a court in a part of the United Kingdom [F35shall act in accordance with the provisions of the Contracts (Applicable Law) Act 1990;]

(2)In particular, reference shall be made to [F36those provisions]

(a)to ascertain for the purposes of paragraph 1(1) and (4) what freedom of choice the parties have under the law of a part of the United Kingdom; and [F37those provisions]

(b)to determine whether the mandatory rules of another member State should be applied in accordance with paragraph 3(1) where the law otherwise applicable is the law of a part of the United Kingdom.

Editorial Information

X9The existing provisions of Sch. 3A (paras. 1-5) became Sch. 1A Pt. I with effect from 20.05.1993 when a new Pt. I heading was inserted. Versions of those provisions as they stood at any time before that date cannot be accessed by navigation from this version. To view those versions, it is recommended that users either conduct an 'advanced search' specifying an 'as at' date earlier than 20.05.1993 or navigate via the Sch. 3A heading.

Textual Amendments

F34Words in Sch. 3 para. 5(1) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(a)

F35Words in Sch. 3 para. 5(1) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(b)

F36Words in Sch. 3 para. 5(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(c)

F37Words in Sch. 3 para. 5(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(c)

[F38PART IIU.K. LONG TERM BUSINESS]

Textual Amendments

F38Sch. 3A Pt. II (paras. 6-10) inserted (20.5.1993) by S.I. 1993/174, reg. 5(5)

General rules as to applicable lawU.K.

6The law applicable to the contract is the law of the member State of the commitment. However, where the law of that member State so allows, the parties may choose the law of another country.

7Where the policy holder is an individual and has his habitual residence in a member State other than that of which he is a national, the parties may choose the law of the member State of which he is a national.

mandatory rulesU.K.

8Nothing in this Part of this Schedule restricts the application of the rules of a part of the United Kingdom in a situation where they are mandatory, irrespective of the law otherwise applicable to the contract.

supplementary provisionsU.K.

9(1)Where a member State includes several territorial units, each of which has its own rules of law concerning contractual obligations, each unit shall be considered as a country for the purposes of identifying the applicable law.

(2)The provisions of this Part of this Schedule apply to conflicts between the laws of the different parts of the United Kingdom.

10(1)Subject to the preceding provisions of this Part of this Schedule, a court in a part of the United Kingdom shall act in accordance with the provisions of the Contracts (Applicable Law) Act 1990].

(2)In particular, reference shall be made to those provisions to ascertain for the purposes of paragraph 6 what freedom of choice the parties have under the law of a part of the United Kingdom.

Section 99(1).

SCHEDULE 4U.K. Saving and Transitional Provisions

Saving for requirements, directions and powers under the Companies Act 1967U.K.

1The repeal by the M1Insurance Companies Amendment Act 1973 of sections 65, 68 and 80 and subsection (1)(f) of section 109 of the M2Companies Act 1967 shall not affect—

(a)any requirement or direction imposed or given under any of those sections before 25th July 1973;

(b)the giving of a direction under the said section 68 in any case in which a notice has been served under subsection (3) of that section before that date; or

(c)the exercise by an officer of any powers under the said section 109 in a case in which he has been authorised before that date to exercise them;

and the said Act of 1967 shall have effect in relation to any such requirement, direction or powers as if the said Act of 1973, the M3Insurance Companies Act 1974 and this Act had not been passed.

Periodic actuarial investigations under section 18 above in relation to any period of twelve months beginning before 1st October 1982U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F392

Textual Amendments

Adjustments of established surplus for purposes of section 30(1) aboveU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F403

Textual Amendments

Margins of solvencyU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F414

Textual Amendments

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F425

Textual Amendments

Postponement of coming into force of section 36 aboveU.K.

6F43. . .Section 36 of this Act shall not take effect until the first regulations under the said section F43. . .36 come into operation.

Textual Amendments

F43Words in Sch. 4 para. 6 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. V

Saving for schemes of operation submitted under Insurance Companies (Authorisation and Accounts: General Business) RegulationsU.K.

7For the purposes of section 37(2)(f) of this Act, a scheme of operations submitted pursuant to regulation 5 of the M4Insurance Companies (Authorisation and Accounts: General Business) Regulations 1978 shall be regarded as a proposal or forecast submitted in accordance with section 5 of this Act.

Marginal Citations

Saving for requirements under section 29 of the Insurance Companies Act 1974U.K.

8Where a requirement under section 29 of the Insurance Companies Act 1974 was in force immediately before 1st January 1982—

(a)that requirement shall continue in force,

(b)any requirement imposed under sections 30 to 37 of that Act on the company concerned, if it was in force immediately before that day, shall continue in force, and

(c)section 47(1) of this Act shall apply to any requirement that continues in force under sub-paragraph (a) or (b) above.

Postponement of effect of sections 37(3) and 38(3) above in respect of long term businessU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F449

Textual Amendments

Deposits made with Accountant General before 1st January 1982U.K.

10A deposit made under regulation 6 of the M5Insurance Companies (Solvency: General Business) Regulations 1977 shall, in so far as it remained with the Accountant General of the Supreme Court immediately before 1st January 1982, be regarded as having been made under section 9(1)(c) of this Act.

Marginal Citations

Continuation of business where contract made before 1st January 1982U.K.

11Where—

(a)as a result of the repeal of section 83(2)(b) of the Insurance Companies Act 1974 any particular kind of ordinary long-term insurance business has become general business, and

(b)an insurance company was immediately before 1st January 1982 lawfully carrying on that particular kind of business in the United Kingdom,

then, notwithstanding the lack of an authorisation to carry on general business, the company may continue to carry out any contract of insurance relating to that particular kind of business if the contract was made before 1st January 1982.

Applications for approval of transfer made before 1st January 1982U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F4512

Textual Amendments

Saving for section 42 of the Insurance Companies Act 1974U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

13

Modifications etc. (not altering text)

C4Sch. 4 para. 13 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V

F46. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

14

Saving for winding up commenced before rules made under section 365 of the [F47Companies Act] or section 317 of the [F48Companies (Northern Ireland) Order 1986]U.K.

15The provisions of this Act, so far as re-enacting provisions of the Insurance Companies Act 1974 which repealed and re-enacted provisions of the M6Insurance Companies Amendment Act 1973 relating to winding up, shall not affect any winding up commenced before the date on which the first rules made under section 365 of the [F49Companies Act] or, as the case may be, section 317 of the M7[F50Companies (Northern Ireland) Order 1986] by virtue of F51. . . section 59(2) above come into operation.

Textual Amendments

F51Words in Sch. 4 para. 15 repealed (5.11.1993) by 1993 c. 50 s. 1(1), Sch. 1 Pt.V

Marginal Citations

Saving for repeal of section 17(2) and (3) of, and Schedules 3 and 4 to, the Insurance Companies Act 1958U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5216

Textual Amendments

Northern IrelandU.K.

17Section 17(2)(a) of the M8Interpretation Act 1978 shall not apply to the reference to the Insurance Companies Act 1974 in paragraph 2 of Schedule 4 to the M9Insurance Companies Act 1980.

Marginal Citations

F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

18

Continuing offencesU.K.

19Where an offence for the continuance of which a penalty was provided has been committed under any enactment repealed by this Act proceedings may be taken under this Act in respect of the continuance of the offence after the commencement of this Act in the like manner as if the offence had been committed under the corresponding provision of this Act.

Transitional provisions relating to sections 9(7), 71(3), 81(2) and 88(2) of this ActU.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5420

Textual Amendments

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F5521

Textual Amendments

GeneralU.K.

22Subject to paragraph 17 above and without prejudice to any express amendment made by this Act, any enactment or other document whatsoever referring to any enactment repealed by this Act shall, unless the context otherwise requires, be construed as referring (or as including a reference) to the corresponding enactment in this Act.

23Without prejudice to paragraph 22 above, any enactment or document whatsoever referring to an assurance company within the meaning of the M10Assurance Companies Act 1909 shall be construed as referring (or as including a reference) to an insurance company to which Part II of this Act applies.

Marginal Citations

24Where a period of time specified in any enactment repealed by this Act is current at the commencement of this Act, this Act has effect as if the corresponding provision of this Act had been in force when that period began to run.

Section 99(2)

SCHEDULE 5U.K. CONSEQUENTIAL AMENDMENTS

Modifications etc. (not altering text)

C5Schedule 5 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and, except as specified, does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

The Companies Act 1948U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F561

Textual Amendments

F57. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

2

Textual Amendments

F57Sch. 5 para. 2: the amendments to the Companies Act (Northern Ireland) 1960 are repealed by S.I. 1986/1035 (N.I. 9), art. 24, Sch. 2

F58. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

3

F59. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

4

F60. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

5

The Companies Act 1967U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F616

Textual Amendments

The Children and Young Persons Act (Northern Ireland) Act 1968U.K.

7In section 7 of the M11Children and Young Persons Act (Northern Ireland) 1968 for “1974" substitute “ 1982 ”.

Marginal Citations

M111968 c. 34. (N.I.).

The Employers’ Liability (Compulsory Insurance) Act 1969U.K.

8In section 1(3)(b) of the M12Employers’ Liability (Compulsory Insurance) Act 1969 for “1981” substitute “ 1982 ”.

Marginal Citations

F62. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

9

F63. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

10

The Employer’s Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972U.K.

11In Article 5(3)(b) of the M13Employer’s Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 for “1981” substitute “ 1982 ”.

Marginal Citations

F64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

12

The Local Government Act 1972U.K.

13In the M14Local Government Act 1972—

(a)in section 140(1) for “1981” substitute “ 1982 ” ;

(b)in paragraph (a) of section 140C(1) for “1981” substitute “ 1982 ”.

Marginal Citations

The Consumer Credit Act 1974U.K.

14In section 189(1) of the M15Consumer Credit Act 1974 in the definition of “insurance company” for the words from “section 33(1)” to “1968” there shall be substituted the words “ section 96(1) of the Insurance Companies Act 1982 ”

Marginal Citations

The M16Solicitors Act 1974U.K.

Marginal Citations

15In section 87(1) of the Solicitors Act 1974—

(a)in the defniition of “authorised manner” for “1974” substitute “ 1982 ” ;

(b)in the definition of “liability insurance business” for “1981” substitute “ 1982 ” ;

(c)in the definition of “pecuniary loss insurance business” for “1981” substitute “ 1982 ”.

The M17Policyholders Protection Act 1975U.K.

Marginal Citations

16In the Policyholders Protection Act 1975—

(a)in section 3(2) for “1981” substitute “ 1982 ” ;

(b)in subsections (1) and (3) of section 28 for the words from “1974” to “1981” there shall be substituted “ 1982 ” ;

(c)in section 29 for the words from “1974” to “1981” (in both places) there shall be substituted “ 1982 ” ;

(d)in section 32(2)(a) for “1974” substitute “ 1982 ” ;

(e)in paragraph 5(3) of Schedule 3 for the words “Sections 28(1)(b)(i) and 46(1)(b) of the M18Insurance Companies Act 1974” there shall be substituted the words “ Sections 37(2)(b)(i) and 54(1)(b) of the Insurance Companies Act 1982 ” ;

(f)in paragraph 5(4) of Schedule 3 for the words “Sections 79 to 82 of the Insurance Companies Act 1974” there shall be substituted the words “ Sections 91 to 94 of the Insurance Companies Act 1982 ”.

Marginal Citations

F65. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

17

The Insurance Brokers (Registration) Act 1977U.K.

18In section 29(1) of the M19Insurance Brokers (Registration) Act 1977 in the definition of “authorised insurers”—

(a)for “1974” substitute “ 1982 ” ;

(b)for “1981” substitute “ 1982 ”.

Marginal Citations

F66. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

19

Textual Amendments

F66Sch. 5 para. 19: the amendments to the Companies (Northern Ireland) Order 1978 repealed by S.I. 1986/1035 (N.I. 9), art. 24, Sch. 2

The M20Credit Unions Act 1979U.K.

Marginal Citations

20In section 15(2)(d) of the Credit Unions Act 1979 for “1974” substitute “ 1982 ”.

F67. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

21

The M21Industrial Assurance (Northern Ireland) Order 1979U.K.

Marginal Citations

22In the Industrial Assurance (Northern Ireland) Order 1979—

(a)in Article 3(4) for the words “Acts 1974 and 1981” there shall be substituted the words “ Act of 1982 ” ; and the words “of 1981” (in each place) shall be omitted ;

F68(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c)in Article 32(1)(b) for “1974” substitute “ 1982 ” ;

(d)in Article 40 for the words “Sections 42 and 43 of the M22Insurance Companies Act 1974” there shall be substituted the words “ Sections 49 and 50 of the Insurance Companies Act 1982 ” ; and for “72(6)” substitute “ 82(5) ” ;

F68(e). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(f)in paragraph 1 of Schedule 5 for the words “section 85(1) of the Insurance Companies Act 1974” there shall be substituted the words “ section 96(1) of the Insurance Companies Act 1982 ” ;

(g)in paragraph 6 of Schedule 5 for “1974” substitute “ 1982 ”.

Textual Amendments

F68Sch. 5 para. 22(b)(e) repealed (8.11.1995) by 1995 c. 44, s. 1, Sch. 1 Pt. VI Group 2

Marginal Citations

The M23Companies Act 1980U.K.

Marginal Citations

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F6923

Textual Amendments

F70. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

24

F71. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

25

The Companies Act 1981U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .U.K.

F7226

Textual Amendments

The M24Road Traffic (Northern Ireland) Order 1981U.K.

Marginal Citations

27In Article 101(1) of the Road Traffic (Northern Ireland) Order 1981 for “1981” (in both places) substitute “ 1982 ”.

28(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F73

(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F74

Section 99(3).

SCHEDULE 6U.K. REPEALS

Modifications etc. (not altering text)

C6Schedule 6 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.

ChapterShort titleExtent of repeal
1974 c. 49.The Insurance Companies Act 1974.The whole Act, except sections 88(1)(6) and 90 and Schedule 1.
1975 c. 75.The Policyholders Protection Act 1975.Section 22(1).
1976 c. 69.The Companies Act 1976.In Schedule 2, the entries relating to sections 17(1) and 75(2) of the Insurance Companies Act 1974.
1980 c. 25.The Insurance Companies Act 1980.In section 1, paragraph (a) and, to the extent an Act therein mentioned is repealed by this Act, paragraph (b).
Section 2.
Schedule 1.
In Schedule 4, paragraph 18.
1980 c. 43.The Magistrates’ Courts Act 1980.In Schedule 7, paragraph 18.
1981 c. 31.The Insurance Companies Act 1981.The whole Act, except sections 36(1), 38 and Part II of Schedule 4.
1981 c. 62.The Companies Act 1981.In Schedule 3, paragraph 35.
S.I. 1981/1657 (c. 44).The Insurance Companies Act 1981 (Commencement) Order 1981.In the Schedule, paragraphs 2-9, 11, 12, 14 and 15.