SCHEDULES
C1F1SCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIES
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 Secretary of State or persons authorised by him 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 Secretary of State to obtain information from the company; and
ii
the Secretary of State is satisfied 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 Secretary of State considers the exercise of those powers in respect of that company to be necessary to enable him to perform his functions under this Act.
2
The Secretary of State 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.
14
1
The powers conferred by section 44 above on the Secretary of State 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 Secretary of State in writing of that person’s intention to exercise those powers.
2
An officer or agent of the Secretary of State may accompany a person so authorised while he is acting in the exercise of those powers.
F214A
Paragraphs 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.
Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6