xmlns:atom="http://www.w3.org/2005/Atom" xmlns:atom="http://www.w3.org/2005/Atom"
Textual Amendments
F1Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6
Modifications etc. (not altering text)
C1Sch. 2F: Power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 60
1(1)An EC company shall not carry on direct insurance business of a class or part of a class through a branch in the United Kingdom unless—
(a)the company is authorised in accordance with Article 6 of the first general insurance Directive or Article 6 of the first long term insurance Directive to carry on insurance business of that class or part of a class; and
(b)the requirements of this paragraph have been complied with in respect of that branch.
(2)The requirements of this paragraph are—
(a)that the supervisory authority in the company’s home State has sent to the [F2Treasury]—
(i)a notice which contains the requisite details; and
(ii)a certificate in accordance with sub-paragraph (3) below; and
(b)that either—
(i)the [F2Treasury][F3have] informed that authority of the conditions which, in the interest of the general good, must be complied with by the company in carrying on insurance business through the branch; or
(ii)the period of two months beginning with the day on which the [F2Treasury] received the notice and certificate mentioned in paragraph (a) above has elapsed.
(3)A certificate given in respect of the company by the supervisory authority in its home State is in accordance with this sub-paragraph if it—
(a)attests that the company has the minimum margin of solvency calculated in accordance with such of the following as are appropriate—
(i)Articles 16 and 17 of the first general insurance Directive, and
(ii)Articles 18, 19 and 20 of the first long term insurance Directive; and
(b)indicates the classes of business which the company is authorised to carry on in accordance with Article 6 of the first general insurance Directive or Article 6 of the first long term insurance Directive.
(4)The [F2Treasury] shall as soon as practicable—
(a)acknowledge receipt of the documents sent by the supervisory authority in the company’s home State; and
(b)where necessary, send a copy of those documents and a note of the date of their receipt to every other authority which [F4they know] is a connected UK authority.
(5)Any connected UK authority which receives any documents under sub-paragraph (4)(b) above shall, within one month of the date on which they were received, inform the [F2Treasury] in writing of such provisions of the Acts, rules and regulations applying to insurance companies which the authority regulates as, having regard to the insurance business mentioned in the documents, it considers appropriate.
Textual Amendments
F2Word in Sch. 2F para. 1 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F3Word in Sch. 2F para. 1(2)(b)(i) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 73(a) (with art. 7)
F4Words in Sch. 2F para. 1(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 73(b) (with art. 7)
2(1)An EC company shall not change the requisite details of a branch—
(a)which has been established by it in the United Kingdom; and
(b)through which it carries on direct insurance business,
unless the requirements of this paragraph have been complied with in relation to its making of the change.
(2)Subject to sub-paragraph (3) below, the requirements of this paragraph are—
(a)that the company has given a notice to the [F5Treasury], and to the supervisory authority in its home State, stating the details of the proposed change not less than one month before the change is to take place;
(b)that the [F5Treasury][F6have] received from that authority a notice stating that it has approved the proposed change; and
(c)that either—
(i)the [F5Treasury][F7have] informed that authority of any consequential changes in the conditions which, in the interest of the general good, must be complied with by the company in carrying on insurance business through the branch; or
(ii)the period of two months beginning with the day on which the company gave the [F5Treasury] the notice under paragraph (a) above has elapsed.
(3)In the case of a change occasioned by circumstances beyond the company’s control, the requirements of this paragraph are that the company shall as soon as practicable (whether before or after the change) give a notice to the [F5Treasury], and to the supervisory authority in its home State, stating the details of the change.
(4)The [F5Treasury] shall as soon as practicable—
(a)acknowledge receipt of the documents sent under sub-paragraph (2) or (3) above;
(b)send a copy of those documents, and a note of the date of their receipt, to every other authority which [F8they know] is a connected UK authority; and
(c)in the case of a notice under sub-paragraph (3) above, inform the supervisory authority in the home State of any consequential changes in the conditions which, in the interest of the general good, must be complied with by the company in carrying on insurance business through the branch.
Textual Amendments
F5Word in Sch. 2F para. 2 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F6Word in Sch. 2F para. 2(2)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 74(a)(i) (with art. 7)
F7Word in Sch. 2F para. 2(2)(c)(i) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 74(a)(ii) (with art. 7)
F8Words in Sch. 2F para. 2(4)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 74(b) (with art. 7)
3The requisite details for the purposes of paragraphs 1 and 2 above are—
(a)the name of the company;
(b)the address of the branch in the United Kingdom and confirmation that it is an address for service on the company’s authorised agent;
(c)the name of the company’s authorised agent;
(d)a scheme of operations prepared in accordance with such requirements as may be imposed by the supervisory authority in its home State; and
(e)in the case of a company which intends to cover relevant motor vehicle risks, confirmation that the company has become a member of the Motor Insurers’ Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929 on 14th June 1946).
4(1)An EC company shall not carry on reinsurance business of any description through a branch in the United Kingdom unless—
(a)the company is entitled under the law of its home State to carry on business of that description; and
(b)the requirements of this paragraph have been complied with in respect of that branch.
(2)The requirements of this paragraph are—
(a)that the company has served on the [F9Treasury]—
(i)a written notice stating its intention to carry on reinsurance business and containing the requisite details; and
(ii)a statement from the supervisory authority in its home State stating the classes of business which the company carries on and declaring that the company has the required margin of solvency or minimum guarantee fund; and
(b)that either—
(i)the [F9Treasury][F10have] informed the company that it may begin to carry on the reinsurance business; or
(ii)the period of three months beginning with the date of service of that notice has expired.
Textual Amendments
F9Word in Sch. 2F para. 4 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F10Word in Sch. 2F para. 4(2)(b)(i) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 75 (with art. 7)
5(1)An EC company shall not change the requisite details of a branch—
(a)which has been established by it in the United Kingdom; and
(b)through which it carries on reinsurance business,
unless the requirements of this paragraph have been complied with in relation to its making of the change.
(2)Subject to sub-paragraph (3) below, the requirements of this paragraph are that the company has given a notice to the [F11Treasury] stating the details of the proposed change not less than one month before the change is to take place.
(3)In the case of a change occasioned by circumstances beyond the company’s control, the requirements of this paragraph are that the company shall as soon as practicable (whether before or after the change) give a notice to the [F11Treasury] stating the details of the change.
Textual Amendments
F11Word in Sch. 2F para. 5 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
6The requisite details for the purposes of paragraphs 4 and 5 above are—
(a)the name of the company;
(b)the address of the branch in the United Kingdom and confirmation that it is an address for service on the company’s authorised agent;
(c)the name of the company’s authorised agent;
(d)a scheme of operations containing particulars of the reinsurance business to be carried on through the branch.
7(1)This paragraph applies where the [F12Treasury][F13receive] from an EC company a notice given in accordance with paragraph 4 or 5 above.
(2) The [F12Treasury] may, before the end of the period of three months beginning with the day on which [F14they receive] the notice, direct that Part II of this Act shall apply to the company.
(3)Before giving a direction under sub-paragraph (2) above, the [F12Treasury]shall serve on the company a written notice stating—
(a)that [F15they are] considering giving a direction and particulars of the ground on which [F15they are] considering it; and
(b)that the company may, within the period of one month from the date of service of the notice, make written representations to the [F12Treasury] and, if the company so requests, oral representations to an officer of the [F16Treasury] appointed for the purpose by the [F12Treasury].
(4)Where representations are made in response to a notice under sub-paragraph (3) above, the [F12Treasury] shall take them into account before giving a direction.
Textual Amendments
F12Word in Sch. 2F para. 7 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F13Word in Sch. 2F para. 7(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 76(a) (with art. 7)
F14Words in Sch. 2F para. 7(2) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 76(b) (with art. 7)
F15Words in Sch. 2F para. 7(3)(a) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 76(c)(i) (with art. 7)
F16Word in Sch. 2F para. 7(3)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 76(c)(ii) (with art. 7)
8(1)An EC company shall not provide insurance of a class or part of a class in the United Kingdom unless the company is authorised in accordance with Article 6 of the first general insurance Directive or Article 6 of the first long term insurance Directive to carry on insurance business of that class or part of a class and either—
(a)the requirements of this paragraph have been complied with in respect of that insurance; or
(b)the insurance is provided by the company participating in a Community co-insurance operation otherwise than as the leading insurer.
(2)The requirements of this paragraph are—
(a)that the supervisory authority in the company’s home State has sent to the [F17Treasury] a notice containing the requisite details and a certificate in accordance with sub-paragraph (3) below; and
(b)that the company has been notified by that authority that it has sent such a notice to the [F17Treasury].
(3)A certificate is in accordance with this sub-paragraph if it—
(a)attests that the company has the minimum margin of solvency calculated in accordance with such of the following as are appropriate—
(i)Articles 16 and 17 of the first general insurance Directive, and
(ii)Articles 18, 19 and 20 of the first long term insurance Directive; and
(b)indicates the classes of business which the company is authorised to carry on in accordance with Article 6 of the first general insurance Directive or Article 6 of the first long term insurance Directive.
Textual Amendments
F17Word in Sch. 2F para. 8 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
Modifications etc. (not altering text)
C2Sch. 2F para. 8 modified (1.7.1994) by S.I. 1994/1696, regs. 69(2), 71(3)
9(1)An EC company shall not change the requisite details relating to the provision ofinsurance in the United Kingdom unless the requirements of this paragraph have been complied with in relation to its making of the change.
(2)Subject to sub-paragraph (3) below, the requirements of this paragraph are—
(a)that the company has given a notice to the supervisory authority in its home State stating the details of the proposed change; and
(b)that that authority has passed to the [F18Treasury] the information contained in that notice.
(3)In the case of a change occasioned by circumstances beyond the company’s control, the requirements of this paragraph are that the company shall, as soon as practicable, give a notice to the supervisory authority in its home State stating the details of the change.
Textual Amendments
F18Word in Sch. 2F para. 9(2)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
10The requisite details for the purposes of paragraph 8 and 9 are—
(a)the name and address of the company;
(b)the nature of the risks or commitments which the company proposes to cover in the United Kingdom; and
(c)in the case of a company which intends to cover relevant motor vehicle risks—
(i)the name and address of the claims representative, and
(ii)confirmation that the company has become a member of the Motor Insurers’ Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929 on 14th June 1946).
11An EC company shall not provide insurance in the United Kingdom to cover relevant motorvehicle risks unless—
(a)it is a member of the Motor Insurers’ Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929 on 14th June 1946); and
(b)either it has appointed a claims representative or the insurance is provided by it participating in a Community co-insurance operation otherwise than as the leading insurer.
12(1)The powers conferred on the [F19Treasury] by section 40A above shall be exercisable in relation to an EC company if the supervisory authority in the company’s home State has, in accordance with Article 20(5) of the first general insurance Directive or Article 24(5) of the first long term insurance Directive, requested the [F19Treasury] to prohibit the free disposal of assets of that company and has confirmed—
(a)that the company has failed to comply with the requirements of Article 15 of the first general insurance Directive or Article 17 of the first long term insurance Directive;
(b)that the solvency margin of the company has fallen below the minimum required by Article 16(3) of the first general insurance Directive or Article 19 of the first long term insurance Directive; or
(c)that the solvency margin of the company has fallen below the guarantee fund as defined in Article 17 of the first general insurance Directive or Article 20 of the first long term insurance Directive.
(2)Those powers shall also be so exercisable if the [F19Treasury][F20are] notified by that authority that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.
Textual Amendments
F19Word in Sch. 2F para. 12 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F20Word in Sch. 2F para. 12(2) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 77 (with art. 7)
13(1)Subject to sub-paragraph (2) below, the powers conferred by section 44 above on the [F21Treasury] or persons authorised by [F22them] shall be exercisable in respect of an EC company if either—
(a)the following requirements are fulfilled, namely—
(i)the supervisory authority in the company’s home State has made a written request to the [F21Treasury] to obtain information from the company; and
(ii)the [F21Treasury][F23them]that the information to be acquired is necessary to enable that supervisory authority to perform its obligations under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; or
(b)the [F21Treasury][F24consider] the exercise of those powers in respect of that company to be necessary to enable [F24them to perform their] functions under this Act.
(2)The [F21Treasury] shall not exercise the powers conferred by subsection (2A), (2B) or(4A) of section 44 above in respect of an EC company unless the requirements of sub-paragraph (1)(a) above are fulfilled.
Textual Amendments
F21Word in Sch. 2F para. 13 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F22Word in Sch. 2F para. 13(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(a) (with art. 7)
F23Word in Sch. 2F para. 13(1)(a)(ii) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(b) (with art. 7)
F24Words in Sch. 2F para. 13(1)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(c) (with art. 7)
14(1)The powers conferred by section 44 above on the [F25Treasury] shall be exercisable in respect of an EC company by a person authorised by the supervisory authority in the company’s home State if—
(a)the information to be requested by that person is necessary to enable the authority to perform its obligations in respect of the company under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; and
(b)the authority has notified the [F25Treasury] in writing of that person’s intention to exercise those powers.
(2)An officer or agent of the [F25Treasury] may accompany a person so authorised while he is acting in the exercise of those powers.
Textual Amendments
F25Word in Sch. 2F para. 14 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
[F2614AParagraphs 13 and 14 above shall apply in relation to the powers conferred by section 44 above on the Secretary of State or persons authorised by him as they apply in relation to the powers conferred by that section on the Treasury or persons authorised by them; and for those purposes the references in those paragraphs to the Treasury shall be construed as references to the Secretary of State.]
Textual Amendments
F26Sch. 2F para. 14A inserted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 79 (with art. 7)
13(1)Subject to sub-paragraph (2) below, the powers conferred by section 44 above on the [F21Treasury] or persons authorised by [F22them] shall be exercisable in respect of an EC company if either—
(a)the following requirements are fulfilled, namely—
(i)the supervisory authority in the company’s home State has made a written request to the [F21Treasury] to obtain information from the company; and
(ii)the [F21Treasury][F23them]that the information to be acquired is necessary to enable that supervisory authority to perform its obligations under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; or
(b)the [F21Treasury][F24consider] the exercise of those powers in respect of that company to be necessary to enable [F24them to perform their] functions under this Act.
(2)The [F21Treasury] shall not exercise the powers conferred by subsection (2A), (2B) or(4A) of section 44 above in respect of an EC company unless the requirements of sub-paragraph (1)(a) above are fulfilled.
Textual Amendments
F21Word in Sch. 2F para. 13 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F22Word in Sch. 2F para. 13(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(a) (with art. 7)
F23Word in Sch. 2F para. 13(1)(a)(ii) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(b) (with art. 7)
F24Words in Sch. 2F para. 13(1)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 78(c) (with art. 7)
14(1)The powers conferred by section 44 above on the [F25Treasury] shall be exercisable in respect of an EC company by a person authorised by the supervisory authority in the company’s home State if—
(a)the information to be requested by that person is necessary to enable the authority to perform its obligations in respect of the company under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; and
(b)the authority has notified the [F25Treasury] in writing of that person’s intention to exercise those powers.
(2)An officer or agent of the [F25Treasury] may accompany a person so authorised while he is acting in the exercise of those powers.
Textual Amendments
F25Word in Sch. 2F para. 14 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
15The [F27Treasury] may exercise [F28their] powers under section 45 above in relation to an EC company if the supervisory authority in the company’s home State—
(a)has informed the [F27Treasury] that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term Directive; and
(b)in accordance with that Article, has requested the [F27Treasury] to take measures in the United Kingdom to safeguard the interests of policy holders of the company.
Textual Amendments
F27Word in Sch. 2F para. 15 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F28Word in Sch. 2F para. 15 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 80 (with art. 7)
16(1)Where it appears to the [F29Treasury] that an EC company has failed to comply with any provision of law applicable to its insurance activities in the United Kingdom, [F30they] may require it to take such steps as [F30they] may specify to comply with that provision.
(2)If the company fails to comply with a requirement under sub-paragraph (1) above, the [F29Treasury] shall notify the supervisory authority in the home State.
(3)If, after the [F29Treasury][F31have] taken the action mentioned in sub-paragraphs (1) and (2) above, the company persists in contravening the provision in question, the [F29Treasury] may, after informing the supervisory authority of the home State, direct the company to cease to carry on insurance business or provide insurance, or to cease to carry on insurance business or provide insurance of any specified description, in the United Kingdom.
(4)The [F29Treasury] may exercise his powers under sub-paragraph (3) above without the conditions there mentioned being fulfilled if [F32they consider] that those powers should be exercised as a matter of urgency.
(5)After giving a direction under this paragraph, the [F29Treasury] shall by notice in writing inform the company of [F33their] reasons for doing so.
(6)A direction under this paragraph does not prevent the company from effecting a contract ofinsurance in pursuance of a term of a subsisting contract of insurance.
(7)A requirement or direction under this paragraph may be varied or revoked by the [F29Treasury].
Textual Amendments
F29Word in Sch. 2F para. 16 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F30Word in Sch. 2F para. 16(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 81(a) (with art. 7)
F31Word in Sch. 2F para. 16(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 81(b) (with art. 7)
F32Words in Sch. 2F para. 16(4) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 81(c) (with art. 7)
F33Word in Sch. 2F para. 16(5) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 81(d) (with art. 7)
17(1)This paragraph applies where—
(a)an EC company is carrying on insurance business or providing insurance in the United Kingdom; and
(b)the [F34Treasury][F35are] notified by the supervisory authority in the home State that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.
(2)The [F34Treasury] may direct the company to cease to carry on insurance business or provide insurance, or to cease to carry on insurance business or provide insurance of a specified description, in the United Kingdom through all, or any specified, establishments.
(3)Where the [F34Treasury][F36receive]notification under sub-paragraph (1) above [F37they] shall forthwith inform the connected UK authorities of its receipt.
(4)After giving such a direction, the [F34Treasury] shall by notice in writing inform the company of [F38their] reasons for doing so.
(5)A direction under this paragraph does not prevent the company from effecting or carrying outa contract of insurance in pursuance of a term of a subsisting contract of insurance.
Textual Amendments
F34Word in Sch. 2F para. 17 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F35Word in Sch. 2F para. 17(1)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(a) (with art. 7)
F36Word in Sch. 2F para. 17(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(b)(i) (with art. 7)
F37Word in Sch. 2F para. 17(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(b)(ii)(with art. 7)
F38Word in Sch. 2F para. 17(4) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 82(c) (with art. 7)
18(1)An EFTA company which intends to provide insurance in the United Kingdom shall send to the [F39Treasury]—
(a)a certificate, issued by the supervisory authority in the EFTA State in which the company’s head office is situated, which attests—
(i)that the company possesses for its activities as a whole the minimum solvency margin calculated in accordance with the relevant provisions; and
(ii)that the company’s authorisation in accordance with Article 7(1) of the relevant Directive enables the company to operate outside the EEA State in which the establishment through which the insurance will be provided is situated (“the EEA State of establishment”);
(b)a certificate, issued by the supervisory authority in the EEA State of establishment, which—
(i)indicates the classes of insurance business which the company has been authorised to undertake through that establishment;
(ii)states that the authority does not object to the company providing insurance in the United Kingdom; and
(iii)where the company intends to provide long term insurance in the United Kingdom, confirms that all the commitments which the company intends to cover fall within the classes of insurance business which the company has been authorised to undertake through that establishment;
(c)a statement by the company of the nature of the risks or commitments which it proposes to cover in the United Kingdom;
(d)a notice stating the address of the company for the purpose of service of documents under this Schedule; and
(e)in the case of a company which intends to provide insurance to cover relevant motor vehicle risks—
(i)a notice stating the name and address of the claims representative; and
(ii)a declaration that the company has become a member of the Motor Insurers’ Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929 on 14th June 1946);
and the company shall not provide insurance in the United Kingdom before the date certified as that on which those documents were received by the [F39Treasury].
(2)Where an EFTA company wishes to provide insurance in the United Kingdom in respect of risks or commitments other than those mentioned in the statement given in accordance with sub-paragraph (1)(c) above, it shall give written notice to the [F39Treasury] amending that statement; and it shall not provide insurance in the United Kingdom in respect of such risks or commitments before the date certified as that on which written notice of the amendment was received by the [F39Treasury].
(3)An EFTA company providing insurance in the United Kingdom shall notify the [F39Treasury] in writing of—
(a)any change of address of the company for the purpose of the service of documents; and
(b)where it provides insurance to cover relevant motor vehicle risks, any change of name or address of the claims representative.
(4)In sub-paragraph (1) above “the relevant Directive” and “the relevant provisions” mean respectively—
(a)if the company intends to cover risks, the first general insurance Directive and Articles 16 and 17 of that Directive;
(b)if the company intends to cover commitments, the first long term insurance Directive and Articles 18, 19 and 20 of that Directive.
(5)Any insurance which is provided by the company participating in a Community co-insurance operation otherwise than as the leading insurer shall be disregarded for the purposes of this paragraph.
Textual Amendments
F39Word in Sch. 2F para. 18 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
19An EFTA company shall not provide insurance in the United Kingdom to cover relevant motor vehicle risks unless—
(a)it is a member of the Motor Insurers’ Bureau (being a company limited by guarantee and incorporated under the Companies Act 1929 on 14th June 1946); and
(b)either it has appointed a claims representative or the insurance is provided by it participating in a Community co-insurance operation otherwise than as the leading insurer.
20(1)Where it appears to the [F40Treasury] that an EFTA company providing insurance in the United Kingdom has failed to comply with any provision of this Act, [F41they] may require it to take such steps as [they] may specify to comply with that provision.
(2)If the company fails to comply with a requirement under sub-paragraph (1) above, the [F40Treasury] shall notify the supervisory authority in the EEA State in which the establishment through which the insurance is provided is situated.
(3)If the company persists in contravening a provision which has been the subject of arequirement under sub-paragraph (1) above, the [F40Treasury] may, after informing that supervisory authority, direct the company to cease to provide insurance, or insurance of any specified description, in the United Kingdom.
(4)After giving such a direction, the [F40Treasury] shall by notice in writing inform the company of [F42their] reasons for doing so.
(5)A direction under this paragraph does not prevent the company from effecting a contract ofinsurance in pursuance of a term of a subsisting contract of insurance.
(6)A requirement or direction under this paragraph may be varied or revoked by the [F40Treasury].
Textual Amendments
F40Word in Sch. 2F para. 20 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F41Word in Sch. 2F para. 20(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 83(a) (with art. 7)
F42Word in Sch. 2F para. 20(4) substituted (5.1.1998) by S.I. 1997/2781, art.8, Sch. Pt. I para. 83(b) (with art. 7)
21The [F43Treasury] may, for the purpose of facilitating the exercise by [F44them of their] functions under paragraph 20 above, require an EFTA company providing insurance in the United Kingdom to furnish [F45the Treasury], at specified times or intervals with information about such matters as [F46they] may specify being, if [F46they] so [F47require], information verified in a specified manner.
Textual Amendments
F43Word in Sch. 2F para. 21 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F44Words in Sch. 2F para. 21 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 84(a)(with art. 7)
F45Words in Sch. 2F para. 21 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 84(b) (with art. 7)
F46Word in Sch. 2F para. 21 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 84(c)(with art. 7)
F47Word in Sch. 2F para. 21 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 84(d) (with art. 7)
22(1)Where an EFTA company is providing insurance in the United Kingdom and the [F48Treasury][F49are]notified by the supervisory authority in the EEA State in which the establishment through which the insurance is provided, or the company’s head office, is situated that the authorisation of the company has been withdrawn in accordance with—
(a)Article 22 of the first general insurance Directive, or
(b)Article 26 of the first long term insurance Directive,
[F50they] may direct the company to cease to provide insurance, or insurance of any specified description, in the United Kingdom through all, or any specified, establishments.
(2)After giving such a direction, the [F48Treasury] shall by notice in writing inform thecompany of [F51their] reasons for doing so.
(3)A direction under this paragraph does not prevent the company from effecting a contract ofinsurance in pursuance of a term of a subsisting contract of insurance.
Textual Amendments
F48Word in Sch. 2F para. 22 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F49Word in Sch. 2F para. 22(1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 85(a)(i) (with art. 7)
F50Word in Sch. 2F para. 22(1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 85(a)(ii) (with art. 7)
F51Words in Sch. 2F para. 22(2) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 85(b) (with art. 7)
23(1)Where an EFTA company intends to provide insurance through an establishment in the United Kingdom, it shall before doing so notify the [F52Treasury] of its intention.
(2)The notification shall indicate—
(a)the EEA State in which the insurance is to be provided, and
(b)the nature of the risks or commitments which the company proposes to cover.
(3)Where the company intends to provide insurance in more than one EEA State, the information specified above may be contained in a single notification but must be set out separately in relation to each such State.
(4)Where a company has duly notified the [F52Treasury] of its intention to provide insurancein an EEA State where administrative authorisation is required for the provision of insurance, then, if the original notification related—
(a)only to risks or commitments in respect of which such authorisation is required, or
(b)only to risks or commitments in respect of which such authorisation is not required,
Textual Amendments
F52Word in Sch. 2F para. 23 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
24(1)An EFTA company which intends to provide insurance through an establishment in the United Kingdom may apply to the [F53Treasury] for a certificate—
(a)indicating the classes of insurance which the company is authorised to carry on in the United Kingdom, and
(b)stating that the [F53Treasury][F54do] not object to the company providing the insurance.
(2)If it appears to the [F53Treasury]that a certificate applied for under sub-paragraph (1) above ought to be issued, [F55they] shall issue the certificate accordingly.
(3)If the [F53Treasury][F56refuse] to issue a certificate, [F57they] shall inform the company in writing of [F58their] decision and of the reasons for it.
Textual Amendments
F53Words in Sch. 2F para. 24 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
F54Word in Sch. 2F para. 24(1)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 86(a) (with art. 7)
F55Word in Sch. 2F para. 24(2) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 86((b) (with art. 7)
F56Word in Sch. 2F para. 24(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 86(c)(i) (with art. 7)
F57Word in Sch. 2F para. 24(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 86(c)(ii) (with art. 7)
F58Word in Sch. 2F para. 24(3) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 86(c)(iii) (with art. 7)
25(1)An EC company commits an offence if—
(a)it carries on insurance business in the United Kingdom in contravention of paragraph 1 or 4 above;
(b)in contravention of paragraph 2 or 5 above, it changes the requisite details of a branch established by it in the United Kingdom;
(c)it provides insurance in the United Kingdom in contravention of paragraph 8 or 11 above;
(d)in contravention of paragraph 9 above, it changes the requisite details relating to the provision of insurance in the United Kingdom; or
(e)it makes default in complying with, or with a requirement imposed under, any other provision of Part I of this Schedule.
(2)An EFTA company commits an offence if—
(a)it provides insurance in the United Kingdom in contravention of paragraph 18 or 19 above; or
(b)it makes default in complying with, or with a requirement imposed under, any other provision of Part II or III of this Schedule.
(3)A person commits an offence if—
(a)in purported compliance with a requirement under paragraph 13, 14 or 21 above, he furnishes information which he knows to be false in a material particular or recklessly furnishes information which is false in a material particular; or
(b)he causes or permits to be included in a document required by paragraph 1, 2, 4, 8, 9 or 18 above to be sent to the [F59Treasury] a statement which he knows to be false in a material particular or recklessly causes or permits to be so included a statement which is false in a material particular.
(4)A person committing an offence under this paragraph is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
Textual Amendments
F59Word in Sch. 2F para. 25(3)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
26(1)In this Schedule—
“authorised agent”, in relation to an EC company, means an agent or employee of the company who has authority—
(a)to bind the company in its relations with third parties; and
(b)to represent the company in its relations with the supervisory authorities and courts in the United Kingdom;
“connected UK authority”, in relation to an EC company, means an authority in the United Kingdom which has regulatory functions in relation to the insurance business which the company proposes to carry on, or the insurance which it intends to provide, in the United Kingdom;
“direct insurance business” means insurance business other than reinsurance business.
(2)In this Schedule—
(a)references in Part I to the provision of insurance in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in the United Kingdom through an establishment in another member State;
(b)references in Part II to the provision of insurance in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in the United Kingdom through an establishment in another EEA State;
(c)references in Part III to the provision of insurance through an establishment in the United Kingdom are references to the covering (otherwise than by way of reinsurance) of a risk or commitment situated in another EEA State through an establishment in the United Kingdom.
(3)In sub-paragraph 2(b) and (c) above—
(a)references to a risk do not include a risk falling within any of the following classes of Schedule 2 to this Act (general business), namely—
class 1, so far as it relates to accidents at work;
classes 9 and 13, so far as they relate to the compulsory insurance of building works;
class 13, so far as it relates to nuclear civil liability and pharmaceutical product liability; and
(b)references to a commitment do not include a commitment falling within any of classes VII, VIII and IX of Schedule 1 to this Act (long term insurance).
(4)An EC or EFTA company shall not be regarded for the purposes of Parts I and II of this Act as carrying on insurance business in the United Kingdom by reason only of the fact that it provides insurance in the United Kingdom.
27(1)Except in its application to a Gibraltar company, this Schedule shall apply as if Gibraltar were part of the United Kingdom.
(2)In this paragraph and paragraphs 28 and 29 below “Gibraltar company” means an insurance company whose head office is in Gibraltar.
28(1)Where, in the case of an EC company which is not a Gibraltar company, Gibraltar requirements corresponding to those of paragraph 1 above have been complied with in respect of a branch, the requirements of that paragraph, and those of paragraph 2 above, shall not apply in respect of that branch.
(2)Where, in the case of an EC company which is not a Gibraltar company, Gibraltar requirements corresponding to those of paragraph 4 above have been complied with in respect of a branch, the requirements of that paragraph, and those of paragraph 5 above, shall not apply in respect of that branch.
(3)Where, in the case of an EC company which is not a Gibraltar company, Gibraltar requirements corresponding to those of paragraph 8 have been complied with in respect of the provision of any insurance, the requirements of that paragraph, and those of paragraph 9 above, shall not apply in respect of the provision of that insurance.
(4)Where, in the case of an EFTA company, Gibraltar requirements corresponding to those of paragraph 18 have been complied with in respect of the provision of any insurance, the requirements of that paragraph shall not apply in respect of the provision of that insurance.
(5)In this paragraph “Gibraltar requirements” means requirements imposed under any provision of the law of Gibraltar.
29(1)Where, in the case of an EC company which is not a Gibraltar company—
(a)the requirements of paragraph 1 or 4 above are complied with in respect of a branch; and
(b)the requisite details for the purposes of that paragraph indicate that the company intends to carry on insurance business in Gibraltar,
the [F60Treasury] shall send to the supervisory authority in Gibraltar a notice which contains those details.
(2)Where, in the case of an EC company which is not a Gibraltar company—
(a)the requirements of paragraph 2 or 5 above are complied with in respect of a branch; and
(b)the changes in requisite details for the purposes of that paragraph indicate that the company intends to carry on insurance business in Gibraltar,
the [F60Treasury]shall send to the supervisory authority in Gibraltar a notice which contains details of the changes.
(3)Where, in the case of an EC company which is not a Gibraltar company, the requirementsof paragraph 8 above are complied with in respect of the provision of any insurance, the [F60Treasury] shall send to the supervisory authority in Gibraltar a notice which contains the requisite details for the purposes of that paragraph.
(4)Where, in the case of an EFTA company, the requirements of paragraph 18 above are compliedwith in respect of the provision of any insurance, the [F60Treasury] shall send to the supervisory authority in Gibraltar a notice which contains the requisite details for the purposes of that paragraph.
Textual Amendments
F60Word in Sch. 2F para. 29 substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 72 (with art. 7)
Section 1.
Number | Description | Nature of business |
---|---|---|
I | Life 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. |
II | Marriage 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. |
III | Linked 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). |
IV | Permanent 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. | ||
V | Tontines. | Effecting and carrying out tontines. |
VI | Capital redemption. | Effecting and carrying out capital redemption contracts. |
VII | Pension 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. | ||
[F61VIII | Collective insurance etc. | Effecting and carrying out contracts of a kind referred to in Article 1(2)(e) of the first long term insurance Directive. |
IX | Social insurance | Effecting and carrying out contracts of a kind referred to in Article 1(3) of the first long term insurance Directive.] |
Textual Amendments
F61Classes VIII, IX in Sch. 1 inserted (1.7.1994) by S.I. 1994/1696, reg. 3
Sections 1 and 3.
Number | Description | Nature of business |
---|---|---|
1 | Accident. | 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 [F62or section 2 of the Police (Insurance of Voluntary Assistants) Act 1997], 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). | ||
2 | Sickness. | 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. |
3 | Land 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. |
4 | Railway rolling stock. | Effecting and carrying out contracts of insurance against loss of or damage to railway rolling stock. |
5 | Aircraft. | Effecting and carrying out contracts of insurance upon aircraft or upon the machinery, tackle, furniture or equipment of aircraft. |
6 | Ships. | 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. |
7 | Goods 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. |
8 | Fire 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. |
9 | Damage 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. |
10 | Motor 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. |
11 | Aircraft 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. |
12 | Liability 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. |
13 | General 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. |
14 | Credit. | 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. |
15 | Suretyship. | 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. | ||
16 | Miscellaneous 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 [F63(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. | ||
17 | Legal 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). |
[F6418] | [F64Assistance] | [F64Effecting and carrying out contracts of insurance providing either or both of the following benefits, namely—] |
[F64(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] | ||
[F64(b) assistance (whether in cash or in kind) for persons who get into difficulties otherwise than as mentioned in paragraph (a) above.] |
Textual Amendments
F62Words in Sch. 2 Pt. I inserted (E.W.) (21.3.1997) by 1997 c. 45, s. 3
F63Words added by S.I. 1987/2130, reg. 2(b)(i)
F64Class 18 added by S.I. 1987/2130, reg. 2(b)(ii)
Modifications etc. (not altering text)
C3Pt. II Group 1 extended by S.I. 1984/1821 (N.I. 11), art. 17(3)
Number | Description | Nature of business |
---|---|---|
1 | Accident and health. | Classes 1 and 2. |
2 | Motor. | 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. |
3 | Marine and transport. | Class 1 (to the said extent) and classes 4, 6, 7 and 12. |
4 | Aviation. | Class 1 (to the said extent) and classes 5, 7 and 11. |
5 | Fire and other damage to property. | Classes 8 and 9. |
6 | Liability. | Classes 10, 11, 12 and 13. |
7 | Credit and suretyship. | Classes 14 and 15. |
8 | General. | All classes. |
Section 7.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F65Sch. 3 ceased to have effect (1.7.1994) by virtue of S.I. 1994/1696, regs. 7(2), 68(3)
Textual Amendments
F66Schedule 3A inserted by S.I. 1990/1333, reg. 6(2)
Textual Amendments
F67By 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
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.
[F68(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
F68Sch. 3A para. 1(6)(7) substituted (1.7.1994) for Sch. 3A para. 1(6) by S.I. 1994/1696, reg. 49
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.
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 [F69this 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
F69Words in Sch. 3 paras. 3(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(a)
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 [F70this 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
F70Words 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 [F71this Part of this Schedule], a court in a part of the United Kingdom [F72shall act in accordance with the provisions of the Contracts (Applicable Law) Act 1990;]
(2)In particular, reference shall be made to [F73those 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 [F74those 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
F71Words in Sch. 3 para. 5(1) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(a)
F72Words in Sch. 3 para. 5(1) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(b)
F73Words in Sch. 3 para. 5(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(c)
F74Words in Sch. 3 para. 5(2) substituted (20.5.1993) by S.I. 1993/174, reg. 5(4)(c)
Textual Amendments
F75Sch. 3A Pt. II (paras. 6-10) inserted (20.5.1993) by S.I. 1993/174, reg. 5(5)
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.
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.
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).
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.
F762
Textual Amendments
F76Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F773
Textual Amendments
F77Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F784
Textual Amendments
F78Sch. 4 para. 4 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F795
Textual Amendments
F79Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
6F80. . .Section 36 of this Act shall not take effect until the first regulations under the said section F80. . .36 come into operation.
Textual Amendments
F80Words in Sch. 4 para. 6 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. V
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
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.
F819
Textual Amendments
F81Sch. 4 para. 9 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
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
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.
F8212
Textual Amendments
F82Sch. 4 Para. 12 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
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
14
Textual Amendments
Textual Amendments
F84Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2
F85Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II
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 [F86Companies Act] or, as the case may be, section 317 of the M7[F87Companies (Northern Ireland) Order 1986] by virtue of F88. . . section 59(2) above come into operation.
Textual Amendments
F86Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2
F87Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II
F88Words in Sch. 4 para. 15 repealed (5.11.1993) by 1993 c. 50 s. 1(1), Sch. 1 Pt.V
Marginal Citations
F8916
Textual Amendments
F89Sch. 4 para. 16 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
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.
18
Textual Amendments
F90Sch. 4 para. 18 repealed by S.I. 1986/1035 (N.I. 9), art. 24, Sch. 2
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.
F9120
Textual Amendments
F91Sch. 4 para. 20 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
F9221
Textual Amendments
F92Sch. 4 para. 21 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
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)
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.
F931
Textual Amendments
F93Sch. 5 para. 1 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
2
Textual Amendments
F94Sch. 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
3
Textual Amendments
4
Textual Amendments
5
Textual Amendments
F986
Textual Amendments
F98Sch. 5 para. 6 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
F997
Textual Amendments
F99Sch. 5 para. 7 repealed (4.11.1996) by S.I. 1995/755 (N.I.2), art. 185(2), Sch. 10; S.R. 1996/297, art. 2(2)
8In section 1(3)(b) of the M11Employers’ Liability (Compulsory Insurance) Act 1969 for “1981” substitute “ 1982 ”.
Marginal Citations
9
Textual Amendments
F100Sch. 5 para. 9 repealed by S.I. 1984/1821 (N.I. 11), art. 53(3), Sch. 5 Pt. I
10
Textual Amendments
11In Article 5(3)(b) of the M12Employer’s Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 for “1981” substitute “ 1982 ”.
Marginal Citations
12
Textual Amendments
13In the M13Local 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
14In section 189(1) of the M14Consumer 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
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 ”.
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 M17Insurance 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
17
Textual Amendments
18In section 29(1) of the M18Insurance Brokers (Registration) Act 1977 in the definition of “authorised insurers”—
(a)for “1974” substitute “ 1982 ” ;
(b)for “1981” substitute “ 1982 ”.
Marginal Citations
19
Textual Amendments
F104Sch. 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
Marginal Citations
20In section 15(2)(d) of the Credit Unions Act 1979 for “1974” substitute “ 1982 ”.
21
Textual Amendments
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 ;
F106(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(c)in Article 32(1)(b) for “1974” substitute “ 1982 ” ;
(d)in Article 40 for the words “Sections 42 and 43 of the M21Insurance 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) ” ;
F106(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
F106Sch. 5 para. 22(b)(e) repealed (8.11.1995) by 1995 c. 44, s. 1, Sch. 1 Pt. VI Group 2
Marginal Citations
Marginal Citations
F10723
Textual Amendments
F107Sch. 5 para. 23 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
24
Textual Amendments
25
Textual Amendments
F11026
Textual Amendments
F110Sch. 5 para. 26 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
Marginal Citations
27In Article 101(1) of the Road Traffic (Northern Ireland) Order 1981 for “1981” (in both places) substitute “ 1982 ”.
28(a). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F111
(b). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F112
Textual Amendments
F111Sch. 5 para. 28(a) repealed by Capital Transfer Tax Act 1984 (c. 51, SIF 65), ss. 274, 277, Schs. 7, 9
Section 99(3).
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.
Chapter | Short title | Extent 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. |