Word in Sch. 2F para. 20 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)

Word 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)

Word 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)

http://www.legislation.gov.uk/ukpga/1982/50/schedule/2F/paragraph/20Insurance Companies Act 1982 (repealed)An Act to consolidate the Insurance Companies Acts 1974 and 1981.1982-11-01texttext/xmlenStatute Law Database2011-05-272001-12-01 SCHEDULESSCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIESPART IIEFTA COMPANIES PROVIDING INSURANCE IN UNITED KINGDOM Powers of intervention20(1)

Where it appears to the Treasury that an EFTA company providing insurance in the United Kingdom has failed to comply with any provision of this Act, they 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 Treasury 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 Treasury 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 Treasury shall by notice in writing inform the company of their 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 Treasury.

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SCHEDULE 2F]
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RECOGNITION IN THE UNITED KINGDOM OF
<abbr class="acronym" title="European Community">EC</abbr>
AND
<abbr class="acronym" title="European Free Trade Area">EFTA</abbr>
COMPANIES
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<num>PART II</num>
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<abbr class="acronym" title="European Free Trade Area">EFTA</abbr>
COMPANIES PROVIDING INSURANCE IN UNITED KINGDOM
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<heading> Powers of intervention</heading>
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Where it appears to the
<ins class="first last" ukl:ChangeId="d30p51590" ukl:CommentaryRef="c1484102">
<noteRef uk:name="commentary" href="#c1484102" class="commentary"/>
Treasury
</ins>
that an
<abbr class="acronym" title="European Free Trade Area">EFTA</abbr>
company providing insurance in the United Kingdom has failed to comply with any provision of this Act,
<ins class="first last" ukl:ChangeId="d30p51594" ukl:CommentaryRef="c1484103">
<noteRef uk:name="commentary" href="#c1484103" class="commentary"/>
they
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may require it to take such steps as
<ins class="first last" ukl:ChangeId="d30p51598">they</ins>
may specify to comply with that provision.
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If the company fails to comply with a requirement under sub-paragraph (1) above, the
<ins class="first last" ukl:ChangeId="d30p51608" ukl:CommentaryRef="c1484102">
<noteRef uk:name="commentary" href="#c1484102" class="commentary"/>
Treasury
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shall notify the supervisory authority in the
<abbr class="acronym" title="European Economic Area">EEA</abbr>
State in which the establishment through which the insurance is provided is situated.
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If the company persists in contravening a provision which has been the subject of arequirement under sub-paragraph (1) above, the
<ins class="first last" ukl:ChangeId="d30p51618" ukl:CommentaryRef="c1484102">
<noteRef uk:name="commentary" href="#c1484102" class="commentary"/>
Treasury
</ins>
may, after informing that supervisory authority, direct the company to cease to provide insurance, or insurance of any specified description, in the United Kingdom.
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After giving such a direction, the
<ins class="first last" ukl:ChangeId="d30p51628" ukl:CommentaryRef="c1484102">
<noteRef uk:name="commentary" href="#c1484102" class="commentary"/>
Treasury
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shall by notice in writing inform the company of
<ins class="first last" ukl:ChangeId="d30p51632" ukl:CommentaryRef="c1484107">
<noteRef uk:name="commentary" href="#c1484107" class="commentary"/>
their
</ins>
reasons for doing so.
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<p>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.</p>
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A requirement or direction under this paragraph may be varied or revoked by the
<ins class="first last" ukl:ChangeId="d30p51648" ukl:CommentaryRef="c1484102">
<noteRef uk:name="commentary" href="#c1484102" class="commentary"/>
Treasury
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