Insurance Companies Act 1982 (repealed) (c. 50)

SCHEDULES

Valid from 01/07/1994

[F1 SCHEDULE 2F] U.K. RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIES]

Textual Amendments

F1 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 I U.K. EC COMPANIES CARRYING ON BUSINESS ETC. IN THE UNITED KINGDOM

Requirements for carrying on reinsurance business U.K.

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 Secretary of State 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 Secretary of State stating the details of the change.