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No versions valid at: 11/03/1991
Point in time view as at 11/03/1991. This version of this cross heading contains provisions that are not valid for this point in time.
Insurance Companies Act 1982 (repealed), Cross Heading: Power to withdraw recognition is up to date with all changes known to be in force on or before 24 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Valid from 01/07/1994
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 Secretary of State is notified by the supervisory authority in the home State that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.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 Secretary of State 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 Secretary of State receives notification under sub-paragraph (1) above he shall forthwith inform the connected UK authorities of its receipt.
(4)After giving such a direction, the Secretary of State shall by notice in writing inform the company of his 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.
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