SCHEDULES

C1F2SCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIES

Annotations:
Amendments (Textual)
F2

Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6

Modifications etc. (not altering text)
C1

Sch. 2F: Power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 60

PART IEC COMPANIES CARRYING ON BUSINESS ETC. IN THE UNITED KINGDOM

Powers to obtain information

13

1

Subject to sub-paragraph (2) below, the powers conferred by section 44 above on the F3Treasury or persons authorised by F4them 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 F3Treasury to obtain information from the company; and

ii

the F3TreasuryF5themthat 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 F3TreasuryF6consider the exercise of those powers in respect of that company to be necessary to enable F6them to perform their functions under this Act.

2

The F3Treasury 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.