1981 c. 31.

1974 c. 49.

http://www.legislation.gov.uk/ukpga/1982/50/schedule/4/crossheading/margins-of-solvency/1993-05-20Insurance Companies Act 1982 (repealed)An Act to consolidate the Insurance Companies Acts 1974 and 1981.1982-11-01texttext/xmlenStatute Law Database2011-05-271993-05-20 SCHEDULESSCHEDULE 4 Saving and Transitional Provisions Margins of solvency4

The requirements of sections 32 and 33 of this Act (or of regulations made for the purposes of those sections) shall not apply until 15th March 1984 in relation to long term business if the company concerned—

(a)

was carrying on long term business in the United Kingdom immediately before 1st January 1982, and

(b)

has not after that date obtained an authorisation under the Insurance Companies Act 1981 for a class of long term business for which on 1st January 1982 it was not authorised under that Act, and

(c)

does not after the commencement of this Act obtain an authorisation under this Act for a class of long term business for which on 1st January 1982 it was not authorised under the Insurance Companies Act 1981.

5

So long as paragraph 4 above applies to a company and a class of long term business carried on by it, then, in relation to that company and that business, the grounds for withdrawal of authorisation set out in section 11(2) of this Act shall be deemed to include the grounds set out in section 28(1)(a) and (2) of the Insurance Companies Act 1974 as in force immediately before 1st January 1982.

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<ref eId="c05279" href="http://www.legislation.gov.uk/id/ukpga/1981/31">1981 c. 31</ref>
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So long as paragraph 4 above applies to a company and a class of long term business carried on by it, then, in relation to that company and that business, the grounds for withdrawal of authorisation set out in section 11(2) of this Act shall be deemed to include the grounds set out in section 28(1)(a) and (2) of the
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