Insurance Companies Act 1982 (repealed)

12 Notices of withdrawal under section 11. U.K.

(1) Before giving a direction under section 11 above otherwise than at the request of the company concerned the [F1 Treasury] shall serve on the company a written notice stating—

(a) that [F2 they are] considering giving a direction and the ground on which [F2 they are]considering it; and

(b) that the company may, within the period of one month from the date of service of the notice, make written representations to the [F1 Treasury] and, if the company so requests, oral representations to an officer of the [F3 Treasury] appointed for the purpose by the [F1 Treasury].

(2) Before giving a direction under section 11 above in respect of a company [F4 on either of the grounds set out in subsection (2A) below], the [F1 Treasury] shall serve on the person whose fitness is in question a written notice stating—

(a) that [F2 they are] considering giving a direction on that ground; and

(b) that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the [F1 Treasury] and, if that person so requests, oral representations to an officer of the [F3 Treasury] appointed for the purpose by the [F1 Treasury]

[F5 (2A) The grounds referred to in subsection (2) above are—

(a) that the company is a UK or non-EC company and it appears to the [F1 Treasury] that the second or third criterion of sound and prudent management is or has not been fulfilled, or may not be or may not have been fulfilled, in respect of the company; and

(b) that there exists a ground on which the [F1 Treasury] would be prohibited by section 7(3), 8(2) or 9(5) above from issuing an authorisation to the company.]

(3) Subject to subsection (4) below, the [F1 Treasury] shall consider any representations made in response to a notice under subsection (2) above before serving a notice under subsection (1) above.

(4) Subsection (3) above shall not apply where the position held by the person on whom the notice under subsection (2) above is served, and whose fitness for that position is in question, is controller of a company.

(5) A notice under subsection (1) or (2) above shall give particulars of the ground on which the [F1 Treasury][F6 are] considering giving a direction.

(6) Where representations are to be made in response to a notice under subsection (1) or (2) above, the [F1 Treasury] shall take them into consideration before giving a direction.

(7) Any notice to be served on a person under subsection (1) or (2) above may be served by post, and a letter containing the notice shall be deemed to be properly addressed if it is addressed to that person at his last known residence or last known place of business in the United Kingdom.

(8) After giving a direction under section 11 above the [F1 Treasury] shall publish notice of it in the London, Edinburgh and Belfast Gazettes and in such other ways as appear to [F7 the Treasury] expedient for notifying the public.

Textual Amendments

F1 Words in s. 12 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 8(a) (with art. 7)

F2 Words in s. 12(1)(a)(2)(a) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 8(b)(c) (with art. 7)

F3 Words in s. 12(1)(b)(2)(b) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 8(b)(c) (with art. 7)

F4 Words in s. 12(2) substituted (1.7.1994) by S.I. 1994/1696, reg. 10(2)

F5 S. 12(2A) inserted (1.7.1994) by S.I. 1994/1696, reg. 10(3)

F6 Words in s. 12(5) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 8(d) (with art. 7)

F7 Words in s. 12(8) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 8(e) (with art. 7)

Modifications etc. (not altering text)

C1 S. 12: power to contract out functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 9

12 Notices of withdrawal under section 11. U.K.

(1) Before giving a direction under section 11 above otherwise than at the request of the company concerned the Secretary of State shall serve on the company a written notice stating—

(a) that he is considering giving a direction and the ground on which he is considering it; and

(b) that the company may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if the company so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.

(2) Before giving a direction under section 11 above in respect of a company [F8 on either of the grounds set out in subsection (2A) below], the Secretary of State shall serve on the person whose fitness is in question a written notice stating—

(a) that he is considering giving a direction on that ground; and

(b) that the person on whom the notice is served may, within the period of one month from the date of service of the notice, make written representations to the Secretary of State and, if that person so requests, oral representations to an officer of the Department of Trade appointed for the purpose by the Secretary of State.

[F9 (2A) The grounds referred to in subsection (2) above are—

(a) that the company is a UK or non-EC company and it appears to the Secretary of State that the second or third criterion of sound and prudent management is or has not been fulfilled, or may not be or may not have been fulfilled, in respect of the company; and

(b) that there exists a ground on which the Secretary of State would be prohibited by section 7(3), 8(2) or 9(5) above from issuing an authorisation to the company.]

(3) Subject to subsection (4) below, the Secretary of State shall consider any representations made in response to a notice under subsection (2) above before serving a notice under subsection (1) above.

(4) Subsection (3) above shall not apply where the position held by the person on whom the notice under subsection (2) above is served, and whose fitness for that position is in question, is controller of a company.

(5) A notice under subsection (1) or (2) above shall give particulars of the ground on which the Secretary of State is considering giving a direction.

(6) Where representations are to be made in response to a notice under subsection (1) or (2) above, the Secretary of State shall take them into consideration before giving a direction.

(7) Any notice to be served on a person under subsection (1) or (2) above may be served by post, and a letter containing the notice shall be deemed to be properly addressed if it is addressed to that person at his last known residence or last known place of business in the United Kingdom.

(8) After giving a direction under section 11 above the Secretary of State shall publish notice of it in the London, Edinburgh and Belfast Gazettes and in such other ways as appear to him expedient for notifying the public.

Textual Amendments

F8 Words in s. 12(2) substituted (1.7.1994) by S.I. 1994/1696, reg. 10(2)

F9 S. 12(2A) inserted (1.7.1994) by S.I. 1994/1696, reg. 10(3)