Section 99(1).
1The repeal by the M1Insurance Companies Amendment Act 1973 of sections 65, 68 and 80 and subsection (1)(f) of section 109 of the M2Companies Act 1967 shall not affect—
(a)any requirement or direction imposed or given under any of those sections before 25th July 1973;
(b)the giving of a direction under the said section 68 in any case in which a notice has been served under subsection (3) of that section before that date; or
(c)the exercise by an officer of any powers under the said section 109 in a case in which he has been authorised before that date to exercise them;
and the said Act of 1967 shall have effect in relation to any such requirement, direction or powers as if the said Act of 1973, the M3Insurance Companies Act 1974 and this Act had not been passed.
F12
Textual Amendments
F1Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F23
Textual Amendments
F2Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F34
Textual Amendments
F3Sch. 4 para. 4 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
F45
Textual Amendments
F4Sch. 4 para. 5 repealed (5.11.1993) by 1993 c.50, s. 1(1), Sch. 1 Pt.V
6F5. . .Section 36 of this Act shall not take effect until the first regulations under the said section F5. . .36 come into operation.
Textual Amendments
F5Words in Sch. 4 para. 6 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt. V
7For the purposes of section 37(2)(f) of this Act, a scheme of operations submitted pursuant to regulation 5 of the M4Insurance Companies (Authorisation and Accounts: General Business) Regulations 1978 shall be regarded as a proposal or forecast submitted in accordance with section 5 of this Act.
Marginal Citations
8Where a requirement under section 29 of the Insurance Companies Act 1974 was in force immediately before 1st January 1982—
(a)that requirement shall continue in force,
(b)any requirement imposed under sections 30 to 37 of that Act on the company concerned, if it was in force immediately before that day, shall continue in force, and
(c)section 47(1) of this Act shall apply to any requirement that continues in force under sub-paragraph (a) or (b) above.
F69
Textual Amendments
F6Sch. 4 para. 9 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
10A deposit made under regulation 6 of the M5Insurance Companies (Solvency: General Business) Regulations 1977 shall, in so far as it remained with the Accountant General of the Supreme Court immediately before 1st January 1982, be regarded as having been made under section 9(1)(c) of this Act.
Marginal Citations
11Where—
(a)as a result of the repeal of section 83(2)(b) of the Insurance Companies Act 1974 any particular kind of ordinary long-term insurance business has become general business, and
(b)an insurance company was immediately before 1st January 1982 lawfully carrying on that particular kind of business in the United Kingdom,
then, notwithstanding the lack of an authorisation to carry on general business, the company may continue to carry out any contract of insurance relating to that particular kind of business if the contract was made before 1st January 1982.
F712
Textual Amendments
F7Sch. 4 Para. 12 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
13
Modifications etc. (not altering text)
C1Sch. 4 para. 13 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
14
Textual Amendments
Textual Amendments
F9Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2
F10Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II
15The provisions of this Act, so far as re-enacting provisions of the Insurance Companies Act 1974 which repealed and re-enacted provisions of the M6Insurance Companies Amendment Act 1973 relating to winding up, shall not affect any winding up commenced before the date on which the first rules made under section 365 of the [F11Companies Act] or, as the case may be, section 317 of the M7[F12Companies (Northern Ireland) Order 1986] by virtue of F13. . . section 59(2) above come into operation.
Textual Amendments
F11Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2
F12Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II
F13Words in Sch. 4 para. 15 repealed (5.11.1993) by 1993 c. 50 s. 1(1), Sch. 1 Pt.V
Marginal Citations
F1416
Textual Amendments
F14Sch. 4 para. 16 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
17Section 17(2)(a) of the M8Interpretation Act 1978 shall not apply to the reference to the Insurance Companies Act 1974 in paragraph 2 of Schedule 4 to the M9Insurance Companies Act 1980.
18
Textual Amendments
F15Sch. 4 para. 18 repealed by S.I. 1986/1035 (N.I. 9), art. 24, Sch. 2
19Where an offence for the continuance of which a penalty was provided has been committed under any enactment repealed by this Act proceedings may be taken under this Act in respect of the continuance of the offence after the commencement of this Act in the like manner as if the offence had been committed under the corresponding provision of this Act.
F1620
Textual Amendments
F16Sch. 4 para. 20 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
F1721
Textual Amendments
F17Sch. 4 para. 21 repealed (5.11.1993) by 1993 c. 50, s. 1(1), Sch. 1 Pt.V
22Subject to paragraph 17 above and without prejudice to any express amendment made by this Act, any enactment or other document whatsoever referring to any enactment repealed by this Act shall, unless the context otherwise requires, be construed as referring (or as including a reference) to the corresponding enactment in this Act.
23Without prejudice to paragraph 22 above, any enactment or document whatsoever referring to an assurance company within the meaning of the M10Assurance Companies Act 1909 shall be construed as referring (or as including a reference) to an insurance company to which Part II of this Act applies.
Marginal Citations
24Where a period of time specified in any enactment repealed by this Act is current at the commencement of this Act, this Act has effect as if the corresponding provision of this Act had been in force when that period began to run.