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)
(1)No person shall become a controller of an insurance company to which this Part of this Act applies otherwise than by virtue of an appointment in relation to which section 60 above has effect unless—
(a)he has served on the Secretary of State a written notice stating that he intends to become a controller of that company and containing such particulars as may be prescribed; and
(b)either the Secretary of State has, before the expiration of the period of three months beginning with the date of service of that notice, notified him in writing that there is no objection to his becoming a controller of the company or that period has elapsed without the Secretary of State having served on him a written notice of objection.
(2)The Secretary of State may serve a notice of objection under subsection (1) above on the ground that it appears to him that the person concerned is not a fit and proper person to be a controller of the company, but before serving such a notice the Secretary of State shall serve on that person a preliminary written notice stating—
(a)that the Secretary of State is considering the service on him of a notice of objection on that ground; and
(b)that that person may, within the period of one month from the date of service of the preliminary 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.
[F1(2A)The Secretary of State may serve a notice of objection under subsection (1) above for the purpose of implementing any decision of the Council or Commission of the Communities under—
(a)Article 29b(4) of the first general insurance Directive F2; or
(b)Article 32b(4) of the first long term insurance Directive F3.]
(3)The Secretary of State shall not be obliged to disclose to any person any particulars of the ground on which he is considering the service on him of a notice of objection.
(4)Where representations are made in accordance with this section the Secretary of State shall take them into consideration before serving the notice of objection.
Textual Amendments
F1S. 61(2A) inserted (19.11.1992) by S.I. 1992/2890, reg.4
F2Article 29b(4) was inserted by Council Directive 90/618/EEC, Article 4.
F3Article 32b(4) was inserted by Council Directive 90/619/EEC, Article 9.
(1)No person shall become a controller of an insurance company to which this Part of this Act applies otherwise than by virtue of an appointment in relation to which section 60 above has effect unless—
(a)he has served on the Secretary of State a written notice stating that he intends to become a controller of that company and containing such particulars as may be prescribed; and
(b)either the Secretary of State has, before the expiration of the period of three months beginning with the date of service of that notice, notified him in writing that there is no objection to his becoming a controller of the company or that period has elapsed without the Secretary of State having served on him a written notice of objection.
(2)The Secretary of State may serve a notice of objection under subsection (1) above on the ground that it appears to him that the person concerned is not a fit and proper person to be a controller of the company, but before serving such a notice the Secretary of State shall serve on that person a preliminary written notice stating—
(a)that the Secretary of State is considering the service on him of a notice of objection on that ground; and
(b)that that person may, within the period of one month from the date of service of the preliminary 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.
[F1(2A)The Secretary of State may serve a notice of objection under subsection (1) above for the purpose of implementing any decision of the Council or Commission of the Communities under—
(a)Article 29b(4) of the first general insurance Directive F2; or
(b)Article 32b(4) of the first long term insurance Directive F3.]
(3)The Secretary of State shall not be obliged to disclose to any person any particulars of the ground on which he is considering the service on him of a notice of objection.
(4)Where representations are made in accordance with this section the Secretary of State shall take them into consideration before serving the notice of objection.
Textual Amendments
F1S. 61(2A) inserted (19.11.1992) by S.I. 1992/2890, reg.4
F2Article 29b(4) was inserted by Council Directive 90/618/EEC, Article 4.
F3Article 32b(4) was inserted by Council Directive 90/619/EEC, Article 9.