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Changes over time for: Section 63
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Version Superseded: 05/01/1994
Status:
Point in time view as at 01/02/1991. This version of this provision has been superseded.
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Changes to legislation:
Insurance Companies Act 1982 (repealed), Section 63 is up to date with all changes known to be in force on or before 08 December 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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63 Change of manager etc. of company from outside United Kingdom.U.K.
(1)In relation to an insurance company whose head office is in a member State other than the United Kingdom, excluding a company whose business in the United Kingdom is restricted to reinsurance,—
(a)section 60 above shall have effect as if the references to a managing director or chief executive were references to a principal United Kingdom executive;
(b)section 61 above shall not apply;
(c)section 62 above shall have effect as if references to a director or manager were references to a principal United Kingdom executive, an employee within section 8(4)(c) above or an authorised United Kingdom representative.
(2)In relation to any other insurance company whose head office is outside the United Kingdom—
(a)section 60 above shall have effect as if the references to a chief executive included references to a principal United Kingdom executive; and
(b)section 62 above shall have effect as if the references to a director included references to a principal United Kingdom executive and to an authorised United Kingdom representative.
(3)In this section—
“principal United Kingdom executive” means an officer or employee within section 8(4)(b) or 9(6) above; and
“authorised United Kingdom representative” means a representative fulfilling the requirements of section 10 above or an individual representative of the kind described in subsection (5) of that section.
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