Part IIU.K. Regulation of Insurance Companies

Modifications etc. (not altering text)

C1Pt. II (ss. 15-71) restricted (1.1.1993) by S.I. 1992/3218, reg65

Pt. II (ss. 15-71) extended (24.12.1996) by S.I. 1996/3011, reg. 3(1)(b), 10(1)

Assets and liabilities attributable to long term businessU.K.

[F131A Arrangement to avoid unfairness between separate insurance funds etc.U.K.

(1)An insurance company to which this Part of this Act applies which carries on long term business in the United Kingdom shall secure that adequate arrangements are in force for securing that transactions affecting assets of the company (other than transactions outside its control) do not operate unfairly between the section 28 fund or funds and the other assets of the company or, in a case where the company has more than one identified fund, between those funds.

(2)In this section—