Textual Amendments
F1Pt. IIIA (ss. 81A–81J) inserted by S.I. 1990/1333, reg. 10
Textual Amendments
F2Pt. IIIA (ss. 81A–81J) inserted by S.I. 1990/1333, reg. 10
(1)An insurance company which intends to provide insurance in the United Kingdom shall send to the Secretary of State—
(a)a certificate issued by the competent authorities of the member State in which the company’s head office is situated attesting—
(i)that the company possesses for its activities as a whole the minimum solvency margin calculated in accordance with Articles 16 and 17 of the first general insurance Directive, and
(ii)that the company’s authorisation in accordance with Article 7(1) of that Directive enables the company to operate outside its member State of establishment,
(b)a certificate issued by the competent authorities of the member State of the establishment through which the company intends to provide insurance in the United Kingdom, which—
(i)indicates the classes of insurance business which the company has been authorised to undertake through that establishment, and
(ii)states that the authorities do not object to the company providing insurance in the United Kingdom,
(c)a statement by the company of the nature of the risks which it proposes to cover in the United Kingdom, and
(d)a notice stating the address of the company for the purpose of the service of documents under this Part;
and the company shall not provide insurance in the United Kingdom before the date certified as that on which those documents were received by the Secretary of State.
(2)Where an insurance company wishes to provide insurance in the United Kingdom in respect of risks other than those mentioned in the statement given in accordance with subsection (1)(c), it shall give written notice to the Secretary of State amending that statement; and it shall not provide insurance in the United Kingdom in respect of such risks before the date certified as that on which written notice of the amendment was received by the Secretary of State.