http://www.legislation.gov.uk/ukpga/1982/50/section/96Insurance Companies Act 1982 (repealed)An Act to consolidate the Insurance Companies Acts 1974 and 1981.1982-11-01texttext/xmlenStatute Law Database2011-05-272001-12-01 Part V Supplementary Provisions Interpretation General interpretation.961In this Act, unless the context otherwise requires—actuary” means an actuary possessing the prescribed qualifications;annuities on human life” does not include superannuation allowances and annuities payable out of any fund applicable solely to the relief and maintenance of persons engaged or who have been engaged in any particular profession, trade or employment, or of the dependants of such persons;'associate’ shall be construed in accordance with section 96C below;body corporate” does not include a corporation sole or a Scottish firm but includes a body incorporated outside the United Kingdom;chief executive” has the meaning given in section 96D below; 'claims representative’ has the meaning given in section 96F below;“commitment” means a commitment represented by insurance business of any of the classes specified in Schedule 1 to this Act;the Companies Act” means the Companies Act 1985contract of insurance” includes any contract the effecting of which constitutes the carrying on of insurance business by virtue of section 95 above;controller” has the meaning given in section 96C below;'Community co-insurance operation’ and, in relation to such an operation, 'leading insurer’ have the same meanings as in Council Directive 78/473/EEC of 30th May 1978 on the co-ordination of laws, regulations and administrative provisions relating to Community co-insurance;court” means the High Court of Justice in England or, in the case of an insurance company registered or having its head office in Scotland, the Court of Session or, in the case of an insurance company registered or having its head office in Northern Ireland, the High Court of Justice in Northern Ireland;'criteria of sound and prudent management’ means the criteria set out in Schedule 2A to this Act;deed of settlement”, in relation to an insurance company, includes any instrument constituting the company;director” includes any person occupying the position of director by whatever name called;'EC company’ has the meaning given in section 2 above;'EEA Agreement’ means the Agreement on the European Economic Area signed at Oporto on 2nd May 1992 as adjusted by the Protocol signed at Brussels on 17th March 1993 ;'EEA State’ means a State which is a Contracting Party to the EEA Agreement . . .;'EFTA company’ has the meaning given by section 72B above;'EFTA State’ means an EEA State which is not a member State;enactment” includes an enactment of the Parliament of Northern Ireland and a Measure of the Northern Ireland Assembly;financial year” means, subject to section 69 above, each period of twelve months at the end of which the balance of the accounts of the insurance company is struck or, if no such balance is struck, the calender year;former Companies Acts” means the Companies Act 1929 or the Companies Act (Northern Ireland) 1932 and any enactment repealed by that Act of 1929 or, as the case may be, that Act of 1932 or by the Companies (Consolidation) Act 1908; and the Companies Acts 1948 to 1983and the Companies Acts (Northern Ireland) 1960 to 1983general business” has the meaning given in section 1 above;holding company” shall be construed in accordance with section 736 of the Companies Act or Article 4 of the Companies (Northern Ireland) Order 1986;'home State’, in relation to an EC company, means the member State in which the company’s head office is situated;industrial assurance business” has the meaning given in section 1(2) of the Industrial Assurance Act 1923 or Articles 2(2) and 3(1) of the Industrial Assurance (Northern Ireland) Order 1979;insolvent” means, in relation to an insurance company at any relevant date, that if proceedings had been taken for the winding up of the company the court could, in accordance with the provisions of sections 122 and 123 or section 221 of the Insolvency Act 1986 or, as the case may be, Articles 102 and 103 or Article 185 of the Insolvency (Northern Ireland) Order 1989, hold or have held that the company was at that date unable to pay its debts;insurance company” means a person or body of persons (whether incorporated or not) carrying on insurance business;life policy” means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;long term business” has the meaning given in section 1 above;long term policy holder” means a policy holder in respect of a policy the effecting of which by the insurer constituted the carrying on of long term business;main agent” has the meaning given in section 96E below;manager”, except in section 56, has the meaning given in section 96D below;awhere the policy holder is an individual, the member State in which he had his habitual residence at that date; orbwhere the policy holder is not an individual, the member State in which the establishment of the policy holder to which the commitment relates wassituated at that date;margin of solvency”, “United Kingdom margin of solvency” and 'EEA margin of solvency’ shall be construed in accordance with section 32 above;'member State’ shall be construed in accordance with section 2(7) . . . above;mortgage”, in relation to Scotland, means a heritable security within the meaning of section 9(8) of the Conveyancing and Feudal Reform (Scotland) Act 1970;'non-EC company’ has the meaning given in section 5 above;'notifiable holding’ means voting rights or shares which, if acquired by any person, will result in his becoming a 10 per cent.shareholder controller, a 20 per cent.shareholder controller, a 33 per cent.shareholder controller, a 50 per cent.shareholder controller or a majority shareholder controller;ordinary long-term insurance business” means long term business that is not industrial assurance business;“parent undertaking” shall be construed in accordance with section 258 of the Companies Act 1985 and Article 266 of the Companies (Northern Ireland) Order 1986 ;policy”—ain relation to ordinary long-term insurance business and industrial assurance business, includes an instrument evidencing a contract to pay an annuity upon human life;bin relation to insurance business of any other class includes any policy under which there is for the time being an existing liability already accrued or under which a liability may accrue; andcin relation to capital redemption business, includes any policy, bond, certificate, receipt or other instrument evidencing the contract with the company;policy holder” means the person who for the time being is the legal holder of the policy for securing the contract with the insurance company or, in relation to capital redemption business, means the person who for the time being is the legal holder of the policy, bond, certificate, receipt or other instrument evidencing the contract with the company, and—ain relation to such ordinary long-term insurance business or industrial assurance business as consists in the granting of annuities upon human life, includes an annuitant; andbin relation to insurance business of any kind other than such as is mentioned in the foregoing paragraph or capital redemption business, includes a person to whom, under a policy, a sum is due or a periodic payment is payable;prescribed” means prescribed by regulations under this Act;registered society” means a society registered or deemed to be registered under the Industrial and Provident Societies Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969;registrar of companies” has the the same meaning as in the Companies Act and “registrar of companies in Northern Ireland” means the registrar of companies within the meaning of Article 2 of the Companies (Northern Ireland) Order 1986;'relevant motor vehicle risks’ means risks falling within class 10 of Schedule 2 to this Act (motor vehicle liability), but excluding carrier’s liability;'shareholder controller’, '10 per cent.shareholder controller’, '20 per cent.shareholder controller’, '33 per cent.shareholder controller’, '50 per cent.shareholder controller’ and 'majority shareholder controller’ have the meanings given by section 96C below;'State of the commitment’, in relation to a commitment entered into at any date, means—awhere the policy holder is an individual, the State in which he had his habitual residence at that date;bwhere the policy holder is not an individual, the State in which the establishment of the policy holder to which the commitment relates was situated at that date,and 'member State of the commitment’ shall be construed accordingly;subsidiary”, except in section 57, shall be construed in accordance with section 736 of the Companies Act or Article 4 of the Companies (Northern Ireland) Order 1986:'subsidiary undertaking’ shall be construed in accordance with section 258 of the Companies Act and Article 266 of the Companies (Northern Ireland) Order 1986 ;“supervisory authority”, in relation to a member State other than the United Kingdom or in relation to Switzerland, means the authority responsible in that State or country for supervising insurance companies;“Swiss general insurance company” has the meaning given in section 11 above;'UK company’ has the meaning given in section 5 above;underwriter” includes any person named in a policy or other contract of insurance as liable to pay or contribute towards the payment of the sum secured by the policy or contract;valuation regulations” means regulations under section 90 above;vessel” includes hovercraft.2References in this Act to a fund or funds maintained in respect of long term business are references to a fund or funds maintained under section 28(1)(b) above and in sections 48(3) and 55(6) above include references to a fund or funds maintained under section 3(1) of the Insurance Companies Act 1958 or section 14(1) of the Insurance Companies Act (Northern Ireland) 1968.3A person shall not be deemed to be within the meaning of any provision of this Act a person in accordance with whose directions or instructions the directors of a company or other body corporate or any of them are accustomed to act by reason only that the directors of the company or body act on advice given by him in a professional capacity.2BAny reference in this Act—ato an undertaking being closely linked with any person, or being closely linked with any person by control; orbto an undertaking’s close links with any person,shall be construed in accordance with regulation 2 of the Financial Institutions (Prudential Supervision) Regulations 1996).4Any reference in this Act to an enactment of the Parliament of Northern Ireland or a Measure of the Northern Ireland Assembly shall include a reference to any enactment re-enacting it with or without modifications.5Except as otherwise provided by paragraph 27 of Schedule 2F to this Act, this Act shall apply as if Gibraltar were a member State.Act repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 3(1)(b)Definition of "chief executive" in s. 96 applied (15.5.1991) by Standard Life Assurance Company Act 1991 (c. iii), s. 14(1), Sch. reg. 1 (1); appointed day (15.5.1991) as published in the London Gazette on 19.4.1991S. 96(1): s. 97 (with ss. 94A, 96(1)), power exercised (11.3.1991) by S.I. 1991/621S. 96(1): s. 17 (with ss. 20, 21, 96(1), 97), power exercised (14.11.1991) by S.I. 1991/2736Definition of “associate”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(a)Words in the definition of “chief executive”in s. 96(1) substituted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(b)Definition inserted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Definition of “claims representative”in s. 96(1) substituted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(c)Definition of commitment in s. 96(1) inserted (20.5.1993) by S.I. 1993/174, reg. 6(2)(b)Words in the definition of “controller”in s. 96(1) substituted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(d)Definition of “Community co-insurance operation”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(e)O.J. L151, 7.6.78, page 25.Definition of “criteria of sound and prudent management”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(f)Definitions of “EC company”“EEA Agreement”“EEA State”“EFTA company”and “EFTA State”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(g)O.J. L1, 3.1.94, page 3.O.J. L1, 3.1.94, page 572.Words in the definition of “EEA State”in s. 96(1) omitted (30.4.1996) by virtue of S.I. 1996/944, reg. 4(3)(a)1929 c. 23. 1932 c. 7(N.I.). 1908 c. 69. Words added by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words added by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II.Figure substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIWords substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIDefinition of “home State”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(h)1923 c. 8. S.I. 1979/1574 (N.I. 13) Words substituted by Insolvency Act 1986 (c. 45, SIF 66), s. 439(2), Sch. 14Words in s. 96(1) substituted (N.I.) (1.10.1991) by S.I. 1989/2405 (N.I. 19), art. 381(2), Sch. 9 para. 38; S.R. 1991/411, art. 2Words in the definition of “main agent”in s. 96(1) substituted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(i)Words in the definition of “manager”in s. 96(1) substituted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(j)Definition of “EEA margin of solvency”in s. 96(1) substituted (30.12.1994) for “Community margin of solvency”by S.I. 1994/3132, reg. 10(3)Definition of “member State”in s. 96(1) inserted (30.12.1994) by S.I. 1994/3132. reg. 3(2)Words in the definition of “member State”in s. 96(1) omitted (30.4.1996) by virtue of S.I. 1996/944, reg. 4(3)(b)1970 c. 35. Definitions of “non-EC company”and “notifiable holding”in s. 96(1) substituted for “member State of the commitment” by S.I. 1994/1696, reg. 50(1)(k)Definition in s. 96(1) inserted (19.11.1992) by S.I. 1992/2890, reg. 9(3)(b)1985 c.6; section 258 was inserted by section 21 of the Companies Act 1989 (c.40).S.I. 1986/1032 (N.I.6); Article 266 was inserted by Article 23 of the Companies (Northern Ireland) Order 1990 (S.I.1990/593 (N.I.5)).1965 c. 12. 1969 c. 24 (N.I.) Words substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Words substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. IIDefinitions of “relevant motor vehicle risks”“shareholder controller”“10 per cent shareholder controller”“20 per cent shareholder controller”“33 per cent shareholder controller”“50 per cent shareholder controller”“majority shareholder controller”and “State of the commitment” in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(l)Figure substituted by Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27), s. 30, Sch. 2Figure substituted by S.I. 1986/1035 (N.I. 9), art. 23, Sch. 1 Pt. II.Definition of “subsidiary undertaking”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(m)1985 c.6: section 258 was inserted by the Companies Act 1989 (c.40), section 21.S.I. 1986/1032 (N.I.6); Article 266 was inserted by the Companies (Northern Ireland) Order 1990 (S.I. 1990/593 (N.I.5)), Article 23.Definitions of “supervisory authority”and “Swiss general insurance company”substituted for definition of “supervisory authority”in s. 96(1) inserted (5.1.1994) by S.I. 1993/3127, reg. 4Definition of “UK company”in s. 96(1) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(1)(n)1958 c. 72. 1968 c. 6 (N.I.) By S.I. 1996/1669, reg. 23, Sch. 5 para. 7 (with reg. 5(6)) it is provided (18.7.1996) that s. 96(2B) shall be inserted after s. 96(3)S. 96(5) inserted (1.7.1994) by S.I. 1994/1696, reg. 50(2)
This XML file does not appear to have any style information associated with it. The document tree is shown below.
<Legislation xmlns="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50" NumberOfProvisions="279" xsi:schemaLocation="http://www.legislation.gov.uk/namespaces/legislation http://www.legislation.gov.uk/schema/legislation.xsd" SchemaVersion="1.0" RestrictExtent="E+W+S+N.I." RestrictStartDate="2001-12-01">
<ukm:Metadata xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata">
<dc:identifier>http://www.legislation.gov.uk/ukpga/1982/50/section/96</dc:identifier>
<dc:title>Insurance Companies Act 1982 (repealed)</dc:title>
<dc:description>An Act to consolidate the Insurance Companies Acts 1974 and 1981.</dc:description>
<dc:date>1982-11-01</dc:date>
<dc:type>text</dc:type>
<dc:format>text/xml</dc:format>
<dc:language>en</dc:language>
<dc:publisher>Statute Law Database</dc:publisher>
<dc:modified>2011-05-27</dc:modified>
<dct:valid>2001-12-01</dct:valid>
<atom:link rel="self" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.xml" type="application/xml"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/resources" href="http://www.legislation.gov.uk/ukpga/1982/50/resources" title="More Resources"/>
<atom:link rel="http://purl.org/dc/terms/provenance" href="http://www.legislation.gov.uk/ukpga/1982/50/introduction#commentary-c1481573" title="textual amendment"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/act" href="http://www.legislation.gov.uk/ukpga/1982/50" title="whole act"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/introduction" href="http://www.legislation.gov.uk/ukpga/1982/50/introduction" title="introduction"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/body" href="http://www.legislation.gov.uk/ukpga/1982/50/body" title="body"/>
<atom:link rel="http://www.legislation.gov.uk/def/navigation/schedules" href="http://www.legislation.gov.uk/ukpga/1982/50/schedules" title="schedules"/>
<atom:link rel="alternate" type="application/rdf+xml" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.rdf" title="RDF/XML"/>
<atom:link rel="alternate" type="application/akn+xml" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.akn" title="AKN"/>
<atom:link rel="alternate" type="application/xhtml+xml" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.xht" title="HTML snippet"/>
<atom:link rel="alternate" type="text/html" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.htm" title="Website (XHTML) Default View"/>
<atom:link rel="alternate" type="text/csv" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.csv" title="CSV"/>
<atom:link rel="alternate" type="application/pdf" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.pdf" title="PDF"/>
<atom:link rel="alternate" type="application/akn+xhtml" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/data.html" title="HTML5 snippet"/>
<atom:link rel="http://purl.org/dc/terms/tableOfContents" hreflang="en" href="http://www.legislation.gov.uk/ukpga/1982/50/contents" title="Table of Contents"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/enacted" title="enacted"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1991-02-01" title="1991-02-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1991-05-15" title="1991-05-15"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1991-10-01" title="1991-10-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1993-05-20" title="1993-05-20"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1994-01-05" title="1994-01-05"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1994-07-01" title="1994-07-01"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1994-12-30" title="1994-12-30"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1996-04-30" title="1996-04-30"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1996-07-18" title="1996-07-18"/>
<atom:link rel="http://purl.org/dc/terms/hasVersion" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96/2001-12-01" title="2001-12-01 repealed"/>
<atom:link rel="up" href="http://www.legislation.gov.uk/ukpga/1982/50" title="Entire legislation"/>
<atom:link rel="prev" href="http://www.legislation.gov.uk/ukpga/1982/50/section/95" title="Provision; Section 95"/>
<atom:link rel="prevInForce" href="http://www.legislation.gov.uk/ukpga/1982/50/introduction" title="Introduction; Introduction"/>
<atom:link rel="next" href="http://www.legislation.gov.uk/ukpga/1982/50/section/96A" title="Provision; Section 96A"/>
<ukm:PrimaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="primary"/>
<ukm:DocumentMainType Value="UnitedKingdomPublicGeneralAct"/>
<ukm:DocumentStatus Value="revised"/>
</ukm:DocumentClassification>
<ukm:Year Value="1982"/>
<ukm:Number Value="50"/>
<ukm:EnactmentDate Date="1982-10-28"/>
<ukm:UnappliedEffects>
<ukm:UnappliedEffect Created="2014-03-14T15:51:33.106Z" AffectingProvisions="art. 2" AffectingYear="2003" AffectedNumber="50" AffectedYear="1982" URI="http://www.legislation.gov.uk/id/effect/uksi-2003-708-adw9qsb1-32" Type="Commencement Order" Modified="2014-03-14T15:51:33.106Z" AffectedURI="http://www.legislation.gov.uk/id/ukpga/1982/50" AffectingNumber="708" RequiresApplied="true" AffectedProvisions="specified amended provision(s)" Notes="commencement order for 2001 c. 16" AffectedClass="UnitedKingdomPublicGeneralAct" AffectingClass="UnitedKingdomStatutoryInstrument" AffectingURI="http://www.legislation.gov.uk/id/uksi/2003/708" EffectId="key-07f0034f21e952eda390cf2fde002094">
<ukm:AffectedTitle>Insurance Companies Act 1982 (repealed)</ukm:AffectedTitle>
<ukm:AffectedTitle>Insurance Companies Act 1982(repealed)</ukm:AffectedTitle>
<ukm:AffectedProvisions>specified amended provision(s)</ukm:AffectedProvisions>
<ukm:AffectingTitle>The Criminal Justice and Police Act 2001 (Commencement No. 9) Order 2003</ukm:AffectingTitle>
<ukm:AffectingProvisions>
<ukm:Section Ref="article-2" URI="http://www.legislation.gov.uk/id/uksi/2003/708/article/2">art. 2</ukm:Section>
</ukm:AffectingProvisions>
<ukm:Commenced>
commencement order for
<ukm:Citation Class="UnitedKingdomPublicGeneralAct" URI="http://www.legislation.gov.uk/id/ukpga/2001/16" Year="2001" Number="16" Title="Criminal Justice and Police Act 2001">2001 c. 16</ukm:Citation>
</ukm:Commenced>
</ukm:UnappliedEffect>
</ukm:UnappliedEffects>
</ukm:PrimaryMetadata>
<ukm:Alternatives>
<ukm:Alternative Date="2008-10-27" URI="http://www.legislation.gov.uk/ukpga/1982/50/pdfs/ukpga_19820050_en.pdf" Title="Print Version"/>
</ukm:Alternatives>
<ukm:Statistics>
<ukm:TotalParagraphs Value="279"/>
<ukm:BodyParagraphs Value="140"/>
<ukm:ScheduleParagraphs Value="139"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="1"/>
</ukm:Statistics>
</ukm:Metadata>
<Primary>
<Body DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/body" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/body" NumberOfProvisions="140" RestrictExtent="E+W+S+N.I." RestrictStartDate="1991-01-02" RestrictEndDate="2001-12-01" Match="false">
<Part DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/V" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/V" NumberOfProvisions="19" RestrictExtent="E+W+S+N.I." RestrictEndDate="2001-12-01" Match="false" id="part-V">
<Number>Part V</Number>
<Title> Supplementary Provisions</Title>
<Pblock DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/part/V/crossheading/interpretation" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/part/V/crossheading/interpretation" NumberOfProvisions="8" RestrictExtent="E+W+S+N.I." RestrictStartDate="1994-07-01" RestrictEndDate="2001-12-01" Match="false" id="part-V-crossheading-interpretation">
<Title> Interpretation</Title>
<P1group RestrictExtent="E+W+S+N.I." RestrictStartDate="1996-07-18" RestrictEndDate="2001-12-01" ConfersPower="true" Match="false">
<Title> General interpretation.</Title>
<P1 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96" id="section-96">
<Pnumber>
<CommentaryRef Ref="c1483523"/>
96
</Pnumber>
<P1para>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1" id="section-96-1">
<Pnumber>
<CommentaryRef Ref="c1483524"/>
1
</Pnumber>
<P2para>
<Text>In this Act, unless the context otherwise requires—</Text>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-actuary">actuary</Term>
” means an actuary possessing the prescribed qualifications;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-annuities-on-human-life">annuities on human life</Term>
” does not include superannuation allowances and annuities payable out of any fund applicable solely to the relief and maintenance of persons engaged or who have been engaged in any particular profession, trade or employment, or of the dependants of such persons;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33660" CommentaryRef="c1483525">'associate’ shall be construed in accordance with section 96C below;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-body-corporate">body corporate</Term>
” does not include a corporation sole or a Scottish firm but includes a body incorporated outside the United Kingdom;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-chief-executive">chief executive</Term>
” has the meaning given in
<Addition ChangeId="d30p33680" CommentaryRef="c1483526">section 96D below</Addition>
;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33684" CommentaryRef="c1483527">
<Addition ChangeId="d30p33685">
<CommentaryRef Ref="c1483528"/>
'claims representative’ has the meaning given in section 96F below;
</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33684" CommentaryRef="c1483527">
<Addition ChangeId="d30p33692" CommentaryRef="c1483529">“commitment” means a commitment represented by insurance business of any of the classes specified in Schedule 1 to this Act;</Addition>
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33684" CommentaryRef="c1483527"></Addition>
<Term id="term-the-companies-act">
<Addition ChangeId="d30p33684" CommentaryRef="c1483527">the Companies Act</Addition>
</Term>
<Addition ChangeId="d30p33684" CommentaryRef="c1483527">” means the Companies Act 1985</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-contract-of-insurance">contract of insurance</Term>
” includes any contract the effecting of which constitutes the carrying on of insurance business by virtue of section 95 above;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-controller">controller</Term>
” has the meaning given in
<Addition ChangeId="d30p33721" CommentaryRef="c1483530">section 96C below</Addition>
;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33725" CommentaryRef="c1483531">
'Community co-insurance operation’ and, in relation to such an operation, 'leading insurer’ have the same meanings as in Council Directive
<Citation URI="http://www.legislation.gov.uk/european/directive/1978/0473" id="c00004" Class="EuropeanEconomicCommunityDirective" Year="1978" Number="473">
78/473/
<Acronym Expansion="European Economic Community">EEC</Acronym>
</Citation>
of 30th May 1978
</Addition>
<Addition ChangeId="d30p33725" CommentaryRef="c1483531">
<CommentaryRef Ref="c1483532"/>
on the co-ordination of laws, regulations and administrative provisions relating to Community co-insurance;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-court">court</Term>
” means the High Court of Justice in England or, in the case of an insurance company registered or having its head office in Scotland, the Court of Session or, in the case of an insurance company registered or having its head office in Northern Ireland, the High Court of Justice in Northern Ireland;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33740" CommentaryRef="c1483533">'criteria of sound and prudent management’ means the criteria set out in Schedule 2A to this Act;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-deed-of-settlement">deed of settlement</Term>
”, in relation to an insurance company, includes any instrument constituting the company;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-director">director</Term>
” includes any person occupying the position of director by whatever name called;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
'
<Acronym Expansion="European Community">EC</Acronym>
company’ has the meaning given in section 2 above;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
'
<Acronym Expansion="European Economic Area">EEA</Acronym>
Agreement’ means the Agreement on the European Economic Area signed at Oporto on 2nd May 1992
</Addition>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
<CommentaryRef Ref="c1483535"/>
as adjusted by the Protocol signed at Brussels on 17th March 1993
</Addition>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
<CommentaryRef Ref="c1483536"/>
;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">'EEA State’ means a State which is a Contracting Party to the EEA Agreement </Addition>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
<CommentaryRef Ref="c1483537"/>
. . .;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">
'
<Acronym Expansion="European Free Trade Area">EFTA</Acronym>
company’ has the meaning given by section 72B above;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33761" CommentaryRef="c1483534">'EFTA State’ means an EEA State which is not a member State;</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-enactment">enactment</Term>
” includes an enactment of the Parliament of Northern Ireland and a Measure of the Northern Ireland Assembly;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-financial-year">financial year</Term>
” means, subject to section 69 above, each period of twelve months at the end of which the balance of the accounts of the insurance company is struck or, if no such balance is struck, the calender year;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-former-companies-acts">former Companies Acts</Term>
” means the
<CommentaryRef Ref="c1483538"/>
Companies Act 1929 or the
<CommentaryRef Ref="c1483539"/>
Companies Act (Northern Ireland) 1932 and any enactment repealed by that Act of 1929 or, as the case may be, that Act of 1932 or by the
<CommentaryRef Ref="c1483540"/>
Companies (Consolidation) Act 1908;
<Addition ChangeId="d30p33817" CommentaryRef="c1483541">and the Companies Acts 1948 to 1983</Addition>
<Addition ChangeId="d30p33820" CommentaryRef="c1483542">and the Companies Acts (Northern Ireland) 1960 to 1983</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-general-business">general business</Term>
” has the meaning given in section 1 above;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-holding-company">holding company</Term>
” shall be construed in accordance with section
<Addition ChangeId="d30p33837" CommentaryRef="c1483543">736</Addition>
of the
<Addition ChangeId="d30p33841" CommentaryRef="c1483544">Companies Act</Addition>
or
<Addition ChangeId="d30p33845" CommentaryRef="c1483545">Article 4</Addition>
of the
<Addition ChangeId="d30p33849" CommentaryRef="c1483546">Companies (Northern Ireland) Order 1986</Addition>
;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Addition ChangeId="d30p33853">
<CommentaryRef Ref="c1483547"/>
'home State’, in relation to an EC company, means the member State in which the company’s head office is situated;
</Addition>
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-industrial-assurance-business">industrial assurance business</Term>
” has the meaning given in section 1(2) of the
<CommentaryRef Ref="c1483548"/>
Industrial Assurance Act 1923 or Articles 2(2) and 3(1) of the
<CommentaryRef Ref="c1483549"/>
Industrial Assurance (Northern Ireland) Order 1979;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-insolvent">insolvent</Term>
” means, in relation to an insurance company at any relevant date, that if proceedings had been taken for the winding up of the company the court could, in accordance with the provisions of sections
<Addition ChangeId="d30p33878" CommentaryRef="c1483550">122 and 123 or section 221 of the Insolvency Act 1986</Addition>
or, as the case may be,
<Addition ChangeId="d30p33882" CommentaryRef="c1483551">Articles 102 and 103 or Article 185 of the Insolvency (Northern Ireland) Order 1989</Addition>
, hold or have held that the company was at that date unable to pay its debts;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-insurance-company">insurance company</Term>
” means a person or body of persons (whether incorporated or not) carrying on insurance business;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-life-policy">life policy</Term>
” means any instrument by which the payment of money is assured on death (except death by accident only) or the happening of any contingency dependent on human life, or any instrument evidencing a contract which is subject to payment of premiums for a term dependent on human life;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-long-term-business">long term business</Term>
” has the meaning given in section 1 above;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-long-term-policy-holder">long term policy holder</Term>
” means a policy holder in respect of a policy the effecting of which by the insurer constituted the carrying on of long term business;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-main-agent">main agent</Term>
” has the meaning given in
<Addition ChangeId="d30p33922" CommentaryRef="c1483552">section 96E below</Addition>
;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-manager">manager</Term>
”, except in section 56, has the meaning given in
<Addition ChangeId="d30p33933" CommentaryRef="c1483553">section 96D below</Addition>
;
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/a" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/a" id="section-96-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>where the policy holder is an individual, the member State in which he had his habitual residence at that date; or</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/b" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/b" id="section-96-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>where the policy holder is not an individual, the member State in which the establishment of the policy holder to which the commitment relates wassituated at that date;</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-margin-of-solvency">margin of solvency</Term>
”, “
<Term id="term-united-kingdom-margin-of-solvency">United Kingdom margin of solvency</Term>
” and
<Addition ChangeId="d30p33961" CommentaryRef="c1483554">'EEA margin of solvency’</Addition>
shall be construed in accordance with section 32 above;
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3para>
<Text>
<Addition ChangeId="d30p33966" CommentaryRef="c1483555">'member State’ shall be construed in accordance with section 2(7) </Addition>
<Addition ChangeId="d30p33966" CommentaryRef="c1483555">
<CommentaryRef Ref="c1483556"/>
. . . above;
</Addition>
</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-mortgage">mortgage</Term>
”, in relation to Scotland, means a heritable security within the meaning of section 9(8) of the
<CommentaryRef Ref="c1483557"/>
Conveyancing and Feudal Reform (Scotland) Act 1970;
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3para>
<Text>
<Addition ChangeId="d30p33983" CommentaryRef="c1483558">'non-EC company’ has the meaning given in section 5 above;</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p33983" CommentaryRef="c1483558">'notifiable holding’ means voting rights or shares which, if acquired by any person, will result in his becoming a 10 per cent.shareholder controller, a 20 per cent.shareholder controller, a 33 per cent.shareholder controller, a 50 per cent.shareholder controller or a majority shareholder controller;</Addition>
</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-ordinary-long-term-insurance-business">ordinary long-term insurance business</Term>
” means long term business that is not industrial assurance business;
</Text>
<BlockText>
<Text>
<Addition ChangeId="d30p33999" CommentaryRef="c1483559">“parent undertaking” shall be construed in accordance with section 258 of the Companies Act 1985 </Addition>
<Addition ChangeId="d30p33999" CommentaryRef="c1483559">
<CommentaryRef Ref="c1483560"/>
and Article 266 of the Companies (Northern Ireland) Order 1986
</Addition>
<Addition ChangeId="d30p33999" CommentaryRef="c1483559">
<CommentaryRef Ref="c1483561"/>
;
</Addition>
</Text>
</BlockText>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-policy">policy</Term>
”—
</Text>
</Para>
</ListItem>
</UnorderedList>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/a" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/a" id="section-96-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>in relation to ordinary long-term insurance business and industrial assurance business, includes an instrument evidencing a contract to pay an annuity upon human life;</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/b" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/b" id="section-96-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>in relation to insurance business of any other class includes any policy under which there is for the time being an existing liability already accrued or under which a liability may accrue; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/c" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/c" id="section-96-1-c">
<Pnumber>c</Pnumber>
<P3para>
<Text>in relation to capital redemption business, includes any policy, bond, certificate, receipt or other instrument evidencing the contract with the company;</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-policy-holder">policy holder</Term>
” means the person who for the time being is the legal holder of the policy for securing the contract with the insurance company or, in relation to capital redemption business, means the person who for the time being is the legal holder of the policy, bond, certificate, receipt or other instrument evidencing the contract with the company, and—
</Text>
</Para>
</ListItem>
</UnorderedList>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/a" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/a" id="section-96-1-a">
<Pnumber>a</Pnumber>
<P3para>
<Text>in relation to such ordinary long-term insurance business or industrial assurance business as consists in the granting of annuities upon human life, includes an annuitant; and</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/b" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/b" id="section-96-1-b">
<Pnumber>b</Pnumber>
<P3para>
<Text>in relation to insurance business of any kind other than such as is mentioned in the foregoing paragraph or capital redemption business, includes a person to whom, under a policy, a sum is due or a periodic payment is payable;</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-prescribed">prescribed</Term>
” means prescribed by regulations under this Act;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-registered-society">registered society</Term>
” means a society registered or deemed to be registered under the
<CommentaryRef Ref="c1483562"/>
Industrial and Provident Societies Act 1965 or the
<CommentaryRef Ref="c1483563"/>
Industrial and Provident Societies Act (Northern Ireland) 1969;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-registrar-of-companies">registrar of companies</Term>
” has the
<Addition ChangeId="d30p34080" CommentaryRef="c1483564">the same meaning as in</Addition>
the
<Addition ChangeId="d30p34084" CommentaryRef="c1483544">Companies Act</Addition>
and “
<Term id="term-registrar-of-companies-in-northern-ireland">registrar of companies in Northern Ireland</Term>
” means the registrar of companies within the meaning of
<Addition ChangeId="d30p34092" CommentaryRef="c1483566">Article 2 of the Companies (Northern Ireland) Order 1986</Addition>
;
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3para>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">'relevant motor vehicle risks’ means risks falling within class 10 of Schedule 2 to this Act (motor vehicle liability), but excluding carrier’s liability;</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">'shareholder controller’, '10 per cent.shareholder controller’, '20 per cent.shareholder controller’, '33 per cent.shareholder controller’, '50 per cent.shareholder controller’ and 'majority shareholder controller’ have the meanings given by section 96C below;</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">'State of the commitment’, in relation to a commitment entered into at any date, means—</Addition>
</Text>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/b/a" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/b/a" id="section-96-1-b-a">
<Pnumber>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">a</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">where the policy holder is an individual, the State in which he had his habitual residence at that date;</Addition>
</Text>
</P4para>
</P4>
<P4 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/1/b/b" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1/b/b" id="section-96-1-b-b">
<Pnumber>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">b</Addition>
</Pnumber>
<P4para>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">where the policy holder is not an individual, the State in which the establishment of the policy holder to which the commitment relates was situated at that date,</Addition>
</Text>
</P4para>
</P4>
<Text>
<Addition ChangeId="d30p34096" CommentaryRef="c1483567">and 'member State of the commitment’ shall be construed accordingly;</Addition>
</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-subsidiary">subsidiary</Term>
”, except in section 57, shall be construed in accordance with section
<Addition ChangeId="d30p34129" CommentaryRef="c1483568">736</Addition>
of the
<Addition ChangeId="d30p34133" CommentaryRef="c1483544">Companies Act</Addition>
or
<Addition ChangeId="d30p34137" CommentaryRef="c1483570">Article 4</Addition>
of the
<Addition ChangeId="d30p34141" CommentaryRef="c1483546">Companies (Northern Ireland) Order 1986</Addition>
:
</Text>
</Para>
</ListItem>
</UnorderedList>
<P3para>
<Text>
<Addition ChangeId="d30p34145" CommentaryRef="c1483572">'subsidiary undertaking’ shall be construed in accordance with section 258 of the Companies Act </Addition>
<Addition ChangeId="d30p34145" CommentaryRef="c1483572">
<CommentaryRef Ref="c1483573"/>
and Article 266 of the Companies (Northern Ireland) Order 1986
</Addition>
<Addition ChangeId="d30p34145" CommentaryRef="c1483572">
<CommentaryRef Ref="c1483574"/>
;
</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p34155" CommentaryRef="c1483575">“supervisory authority”, in relation to a member State other than the United Kingdom or in relation to Switzerland, means the authority responsible in that State or country for supervising insurance companies;</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p34161" CommentaryRef="c1483575">“Swiss general insurance company” has the meaning given in section 11 above;</Addition>
</Text>
</P3para>
<P3para>
<Text>
<Addition ChangeId="d30p34166" CommentaryRef="c1483577">
'
<Acronym Expansion="United Kingdom">UK</Acronym>
company’ has the meaning given in section 5 above;
</Addition>
</Text>
</P3para>
<UnorderedList Decoration="none" Class="Definition">
<ListItem>
<Para>
<Text>
<Term id="term-underwriter">underwriter</Term>
” includes any person named in a policy or other contract of insurance as liable to pay or contribute towards the payment of the sum secured by the policy or contract;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-valuation-regulations">valuation regulations</Term>
” means regulations under section 90 above;
</Text>
</Para>
</ListItem>
<ListItem>
<Para>
<Text>
<Term id="term-vessel">vessel</Term>
” includes hovercraft.
</Text>
</Para>
</ListItem>
</UnorderedList>
</P3>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/2" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/2" id="section-96-2">
<Pnumber>2</Pnumber>
<P2para>
<Text>
References in this Act to a fund or funds maintained in respect of long term business are references to a fund or funds maintained under section 28(1)(b) above and in sections 48(3) and 55(6) above include references to a fund or funds maintained under section 3(1) of the
<CommentaryRef Ref="c1483578"/>
Insurance Companies Act 1958 or section 14(1) of the
<CommentaryRef Ref="c1483579"/>
Insurance Companies Act (Northern Ireland) 1968.
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/3" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/3" id="section-96-3">
<Pnumber>3</Pnumber>
<P2para>
<Text>A person shall not be deemed to be within the meaning of any provision of this Act a person in accordance with whose directions or instructions the directors of a company or other body corporate or any of them are accustomed to act by reason only that the directors of the company or body act on advice given by him in a professional capacity.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/2B" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/2B" id="section-96-2B">
<Pnumber>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">2B</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">Any reference in this Act—</Addition>
</Text>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/2B/a" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/2B/a" id="section-96-2B-a">
<Pnumber>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">a</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">to an undertaking being closely linked with any person, or being closely linked with any person by control; or</Addition>
</Text>
</P3para>
</P3>
<P3 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/2B/b" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/2B/b" id="section-96-2B-b">
<Pnumber>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">b</Addition>
</Pnumber>
<P3para>
<Text>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">to an undertaking’s close links with any person,</Addition>
</Text>
</P3para>
</P3>
<Text>
<Addition ChangeId="d30p34209" CommentaryRef="c1483580">shall be construed in accordance with regulation 2 of the Financial Institutions (Prudential Supervision) Regulations 1996).</Addition>
</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/4" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/4" id="section-96-4">
<Pnumber>4</Pnumber>
<P2para>
<Text>Any reference in this Act to an enactment of the Parliament of Northern Ireland or a Measure of the Northern Ireland Assembly shall include a reference to any enactment re-enacting it with or without modifications.</Text>
</P2para>
</P2>
<P2 DocumentURI="http://www.legislation.gov.uk/ukpga/1982/50/section/96/5" IdURI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/5" id="section-96-5">
<Pnumber>
<Addition ChangeId="d30p34237">
<CommentaryRef Ref="c1483581"/>
5
</Addition>
</Pnumber>
<P2para>
<Text>
<Addition ChangeId="d30p34237">Except as otherwise provided by paragraph 27 of Schedule 2F to this Act, this Act shall apply as if Gibraltar were a member State.</Addition>
</Text>
</P2para>
</P2>
</P1para>
</P1>
</P1group>
</Pblock>
</Part>
</Body>
</Primary>
<Commentaries>
<Commentary id="c1481573" Type="F">
<Para>
<Text>
Act repealed (1.12.2001) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/2001/3649" id="c00069" Class="UnitedKingdomStatutoryInstrument" Year="2001" Number="3649">S.I. 2001/3649</Citation>
,
<CitationSubRef id="c00070" URI="http://www.legislation.gov.uk/id/uksi/2001/3649/article/1" Operative="true" CitationRef="c00069" SectionRef="article-1">arts. 1</CitationSubRef>
,
<CitationSubRef id="c00071" URI="http://www.legislation.gov.uk/id/uksi/2001/3649/article/3/1/b" CitationRef="c00069" SectionRef="article-3-1-b">3(1)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483523" Type="C">
<Para>
<Text>
Definition of "chief executive" in s. 96 applied (15.5.1991) by
<Citation URI="http://www.legislation.gov.uk/id/ukla/1991/3" id="c04920" Class="UnitedKingdomLocalAct" Year="1991" Number="3" Title="Standard Life Assurance Company Act 1991">Standard Life Assurance Company Act 1991 (c. iii)</Citation>
,
<CitationSubRef id="c04921" URI="http://www.legislation.gov.uk/id/ukla/1991/3/section/14/1" CitationRef="c04920" SectionRef="section-14-1">s. 14(1)</CitationSubRef>
,
<CitationSubRef id="c04922" URI="http://www.legislation.gov.uk/id/ukla/1991/3/schedule/regulation/1" Operative="true" CitationRef="c04920" SectionRef="schedule-regulation-1">Sch. reg. 1</CitationSubRef>
(1); appointed day (15.5.1991) as published in the London Gazette on 19.4.1991
</Text>
</Para>
</Commentary>
<Commentary id="c1483524" Type="P">
<Para>
<Text>
<CitationSubRef id="c04923" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1" SectionRef="section-96-1">S. 96(1)</CitationSubRef>
: s. 97 (with ss. 94A, 96(1)), power exercised (11.3.1991) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1991/621" id="c04924" Class="UnitedKingdomStatutoryInstrument" Year="1991" Number="621">S.I. 1991/621</Citation>
</Text>
</Para>
<Para>
<Text>
<CitationSubRef id="c04925" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1" SectionRef="section-96-1">S. 96(1)</CitationSubRef>
: s. 17 (with ss. 20, 21, 96(1), 97), power exercised (14.11.1991) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1991/2736" id="c04926" Class="UnitedKingdomStatutoryInstrument" Year="1991" Number="2736">S.I. 1991/2736</Citation>
</Text>
</Para>
</Commentary>
<Commentary id="c1483525" Type="F">
<Para>
<Text>
Definition of “associate”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04927" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04928" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/a" Operative="true" CitationRef="c04927" SectionRef="regulation-50-1-a">reg. 50(1)(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483526" Type="F">
<Para>
<Text>
Words in the definition of “chief executive”in s. 96(1) substituted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04929" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04930" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/b" Operative="true" CitationRef="c04929" SectionRef="regulation-50-1-b">reg. 50(1)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483527" Type="F">
<Para>
<Text>
Definition inserted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c04931" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c04932" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c04931" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c04933" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c04931" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483528" Type="F">
<Para>
<Text>
Definition of “claims representative”in s. 96(1) substituted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04934" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04935" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/c" Operative="true" CitationRef="c04934" SectionRef="regulation-50-1-c">reg. 50(1)(c)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483529" Type="F">
<Para>
<Text>
Definition of commitment in s. 96(1) inserted (20.5.1993) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1993/174" id="c04936" Class="UnitedKingdomStatutoryInstrument" Year="1993" Number="174">S.I. 1993/174</Citation>
,
<CitationSubRef id="c04937" URI="http://www.legislation.gov.uk/id/uksi/1993/174/regulation/6/2/b" Operative="true" CitationRef="c04936" SectionRef="regulation-6-2-b">reg. 6(2)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483530" Type="F">
<Para>
<Text>
Words in the definition of “controller”in s. 96(1) substituted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04938" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04939" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/d" Operative="true" CitationRef="c04938" SectionRef="regulation-50-1-d">reg. 50(1)(d)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483531" Type="F">
<Para>
<Text>
Definition of “Community co-insurance operation”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04940" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04941" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/e" Operative="true" CitationRef="c04940" SectionRef="regulation-50-1-e">reg. 50(1)(e)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483532" Type="F">
<Para>
<Text>O.J. L151, 7.6.78, page 25.</Text>
</Para>
</Commentary>
<Commentary id="c1483533" Type="F">
<Para>
<Text>
Definition of “criteria of sound and prudent management”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04942" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04943" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/f" Operative="true" CitationRef="c04942" SectionRef="regulation-50-1-f">reg. 50(1)(f)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483534" Type="F">
<Para>
<Text>Definitions of “EC company”</Text>
</Para>
<Para>
<Text>“EEA Agreement”</Text>
</Para>
<Para>
<Text>“EEA State”</Text>
</Para>
<Para>
<Text>
“EFTA company”and “EFTA State”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04944" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04945" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/g" Operative="true" CitationRef="c04944" SectionRef="regulation-50-1-g">reg. 50(1)(g)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483535" Type="F">
<Para>
<Text>O.J. L1, 3.1.94, page 3.</Text>
</Para>
</Commentary>
<Commentary id="c1483536" Type="F">
<Para>
<Text>O.J. L1, 3.1.94, page 572.</Text>
</Para>
</Commentary>
<Commentary id="c1483537" Type="F">
<Para>
<Text>
Words in the definition of “EEA State”in s. 96(1) omitted (30.4.1996) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/1996/944" id="c04946" Class="UnitedKingdomStatutoryInstrument" Year="1996" Number="944">S.I. 1996/944</Citation>
,
<CitationSubRef id="c04947" URI="http://www.legislation.gov.uk/id/uksi/1996/944/regulation/4/3/a" Operative="true" CitationRef="c04946" SectionRef="regulation-4-3-a">reg. 4(3)(a)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483538" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1929/23" id="c04948" Year="1929" Class="UnitedKingdomPublicGeneralAct" Number="23">1929 c. 23</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483539" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1932/7" id="c04949" Year="1932" Class="UnitedKingdomPublicGeneralAct" Number="7">1932 c. 7</Citation>
(N.I.).
</Text>
</Para>
</Commentary>
<Commentary id="c1483540" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1908/69" id="c04950" Year="1908" Class="UnitedKingdomPublicGeneralAct" Number="69">1908 c. 69</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483541" Type="F">
<Para>
<Text>
Words added by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c04951" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c04952" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c04951" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c04953" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c04951" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483542" Type="F">
<Para>
<Text>
Words added by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c04954" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c04955" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c04954" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c04956" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c04954" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483543" Type="F">
<Para>
<Text>
Figure substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c04957" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c04958" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c04957" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c04959" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c04957" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483544" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c04960" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c04961" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c04960" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c04962" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c04960" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483545" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c04963" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c04964" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c04963" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c04965" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c04963" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483546" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c04966" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c04967" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c04966" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c04968" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c04966" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483547" Type="F">
<Para>
<Text>
Definition of “home State”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04969" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04970" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/h" Operative="true" CitationRef="c04969" SectionRef="regulation-50-1-h">reg. 50(1)(h)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483548" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1923/8" id="c04971" Year="1923" Class="UnitedKingdomPublicGeneralAct" Number="8">1923 c. 8</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483549" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/nisi/1979/1574" id="c04972" Class="NorthernIrelandOrderInCouncil" Year="1979" Number="1574">S.I. 1979/1574 (N.I. 13)</Citation>
</Text>
</Para>
</Commentary>
<Commentary id="c1483550" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1986/45" id="c04973" Year="1986" Class="UnitedKingdomPublicGeneralAct" Number="45" Title="Insolvency Act 1986">Insolvency Act 1986 (c. 45, SIF 66)</Citation>
,
<CitationSubRef id="c04974" URI="http://www.legislation.gov.uk/id/ukpga/1986/45/section/439/2" CitationRef="c04973" SectionRef="section-439-2">s. 439(2)</CitationSubRef>
,
<CitationSubRef id="c04975" URI="http://www.legislation.gov.uk/id/ukpga/1986/45/schedule/14" Operative="true" CitationRef="c04973" SectionRef="schedule-14">Sch. 14</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483551" Type="F">
<Para>
<Text>
Words in
<CitationSubRef id="c04976" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/1" SectionRef="section-96-1">s. 96(1)</CitationSubRef>
substituted (N.I.) (1.10.1991) by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1989/2405" id="c04977" Class="NorthernIrelandOrderInCouncil" Year="1989" Number="2405">S.I. 1989/2405 (N.I. 19)</Citation>
,
<CitationSubRef id="c04978" URI="http://www.legislation.gov.uk/id/nisi/1989/2405/article/381/2" CitationRef="c04977" SectionRef="article-381-2">art. 381(2)</CitationSubRef>
,
<CitationSubRef id="c04979" URI="http://www.legislation.gov.uk/id/nisi/1989/2405/schedule/9/paragraph/38" Operative="true" CitationRef="c04977" SectionRef="schedule-9-paragraph-38">Sch. 9 para. 38</CitationSubRef>
;
<Citation URI="http://www.legislation.gov.uk/id/nisr/1991/411" id="c04980" Class="NorthernIrelandStatutoryRule" Year="1991" Number="411">S.R. 1991/411</Citation>
,
<CitationSubRef id="c04981" URI="http://www.legislation.gov.uk/id/nisr/1991/411/article/2" Operative="true" CitationRef="c04980" SectionRef="article-2">art. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483552" Type="F">
<Para>
<Text>
Words in the definition of “main agent”in s. 96(1) substituted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04982" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04983" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/i" Operative="true" CitationRef="c04982" SectionRef="regulation-50-1-i">reg. 50(1)(i)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483553" Type="F">
<Para>
<Text>
Words in the definition of “manager”in s. 96(1) substituted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04984" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04985" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/j" Operative="true" CitationRef="c04984" SectionRef="regulation-50-1-j">reg. 50(1)(j)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483554" Type="F">
<Para>
<Text>
Definition of “EEA margin of solvency”in s. 96(1) substituted (30.12.1994) for “Community margin of solvency”by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/3132" id="c04986" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="3132">S.I. 1994/3132</Citation>
,
<CitationSubRef id="c04987" URI="http://www.legislation.gov.uk/id/uksi/1994/3132/regulation/10/3" Operative="true" CitationRef="c04986" SectionRef="regulation-10-3">reg. 10(3)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483555" Type="F">
<Para>
<Text>
Definition of “member State”in s. 96(1) inserted (30.12.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/3132" id="c04988" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="3132">S.I. 1994/3132</Citation>
. reg. 3(2)
</Text>
</Para>
</Commentary>
<Commentary id="c1483556" Type="F">
<Para>
<Text>
Words in the definition of “member State”in s. 96(1) omitted (30.4.1996) by virtue of
<Citation URI="http://www.legislation.gov.uk/id/uksi/1996/944" id="c04989" Class="UnitedKingdomStatutoryInstrument" Year="1996" Number="944">S.I. 1996/944</Citation>
,
<CitationSubRef id="c04990" URI="http://www.legislation.gov.uk/id/uksi/1996/944/regulation/4/3/b" Operative="true" CitationRef="c04989" SectionRef="regulation-4-3-b">reg. 4(3)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483557" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1970/35" id="c04991" Year="1970" Class="UnitedKingdomPublicGeneralAct" Number="35">1970 c. 35</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483558" Type="F">
<Para>
<Text>
Definitions of “non-EC company”and “notifiable holding”in s. 96(1) substituted for “member State of the commitment” by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c04992" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c04993" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/k" Operative="true" CitationRef="c04992" SectionRef="regulation-50-1-k">reg. 50(1)(k)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483559" Type="F">
<Para>
<Text>
Definition in s. 96(1) inserted (19.11.1992) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1992/2890" id="c04994" Class="UnitedKingdomStatutoryInstrument" Year="1992" Number="2890">S.I. 1992/2890</Citation>
,
<CitationSubRef id="c04995" URI="http://www.legislation.gov.uk/id/uksi/1992/2890/regulation/9/3/b" Operative="true" CitationRef="c04994" SectionRef="regulation-9-3-b">reg. 9(3)(b)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483560" Type="F">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/6" id="c04996" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="6">1985 c.6</Citation>
;
<CitationSubRef id="c04997" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/258" SectionRef="section-258">section 258</CitationSubRef>
was inserted by section 21 of the
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1989/40" id="c04998" Year="1989" Class="UnitedKingdomPublicGeneralAct" Number="40" Title="Companies Act 1989">Companies Act 1989 (c.40)</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483561" Type="F">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1032" id="c04999" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1032">S.I. 1986/1032 (N.I.6)</Citation>
;
<CitationSubRef id="c05000" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/article/266" SectionRef="article-266">Article 266</CitationSubRef>
was inserted by Article 23 of the
<Citation URI="http://www.legislation.gov.uk/id/nisi/1990/593" id="c05001" Class="NorthernIrelandOrderInCouncil" Year="1990" Number="593" Title="Companies (Northern Ireland) Order 1990">Companies (Northern Ireland) Order 1990 (S.I.1990/593 (N.I.5))</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483562" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1965/12" id="c05002" Year="1965" Class="UnitedKingdomPublicGeneralAct" Number="12">1965 c. 12</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483563" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/apni/1969/24" id="c05003" Class="NorthernIrelandParliamentAct" Year="1969" Number="24">1969 c. 24 (N.I.)</Citation>
</Text>
</Para>
</Commentary>
<Commentary id="c1483564" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c05004" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c05005" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c05004" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c05006" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c05004" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483566" Type="F">
<Para>
<Text>
Words substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c05007" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c05008" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c05007" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c05009" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c05007" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483567" Type="F">
<Para>
<Text>Definitions of “relevant motor vehicle risks”</Text>
</Para>
<Para>
<Text>“shareholder controller”</Text>
</Para>
<Para>
<Text>“10 per cent shareholder controller”</Text>
</Para>
<Para>
<Text>“20 per cent shareholder controller”</Text>
</Para>
<Para>
<Text>“33 per cent shareholder controller”</Text>
</Para>
<Para>
<Text>“50 per cent shareholder controller”</Text>
</Para>
<Para>
<Text>
“majority shareholder controller”and “State of the commitment” in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c05010" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c05011" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/l" Operative="true" CitationRef="c05010" SectionRef="regulation-50-1-l">reg. 50(1)(l)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483568" Type="F">
<Para>
<Text>
Figure substituted by
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/9" id="c05012" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="9" Title="Companies Consolidation (Consequential Provisions) Act 1985">Companies Consolidation (Consequential Provisions) Act 1985 (c. 9, SIF 27)</Citation>
,
<CitationSubRef id="c05013" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/section/30" CitationRef="c05012" SectionRef="section-30">s. 30</CitationSubRef>
,
<CitationSubRef id="c05014" URI="http://www.legislation.gov.uk/id/ukpga/1985/9/schedule/2" Operative="true" CitationRef="c05012" SectionRef="schedule-2">Sch. 2</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483570" Type="F">
<Para>
<Text>
Figure substituted by
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1035" id="c05015" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1035">S.I. 1986/1035 (N.I. 9)</Citation>
,
<CitationSubRef id="c05016" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/article/23" CitationRef="c05015" SectionRef="article-23">art. 23</CitationSubRef>
,
<CitationSubRef id="c05017" URI="http://www.legislation.gov.uk/id/nisi/1986/1035/schedule/1/part/II" Operative="true" CitationRef="c05015" SectionRef="schedule-1-part-II">Sch. 1 Pt. II</CitationSubRef>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483572" Type="F">
<Para>
<Text>
Definition of “subsidiary undertaking”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c05018" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c05019" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/m" Operative="true" CitationRef="c05018" SectionRef="regulation-50-1-m">reg. 50(1)(m)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483573" Type="F">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1985/6" id="c05020" Year="1985" Class="UnitedKingdomPublicGeneralAct" Number="6">1985 c.6</Citation>
: section 258 was inserted by the
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1989/40" id="c05021" Year="1989" Class="UnitedKingdomPublicGeneralAct" Number="40" Title="Companies Act 1989">Companies Act 1989 (c.40)</Citation>
,
<CitationSubRef id="c05022" URI="http://www.legislation.gov.uk/id/ukpga/1989/40/section/21" Operative="true" CitationRef="c05021" SectionRef="section-21">section 21</CitationSubRef>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483574" Type="F">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/nisi/1986/1032" id="c05023" Class="NorthernIrelandOrderInCouncil" Year="1986" Number="1032">S.I. 1986/1032 (N.I.6)</Citation>
;
<CitationSubRef id="c05024" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/article/266" SectionRef="article-266">Article 266</CitationSubRef>
was inserted by the
<Citation URI="http://www.legislation.gov.uk/id/nisi/1990/593" id="c05025" Class="NorthernIrelandOrderInCouncil" Year="1990" Number="593" Title="Companies (Northern Ireland) Order 1990">Companies (Northern Ireland) Order 1990 (S.I. 1990/593 (N.I.5))</Citation>
,
<CitationSubRef id="c05026" URI="http://www.legislation.gov.uk/id/nisi/1990/593/article/23" Operative="true" CitationRef="c05025" SectionRef="article-23">Article 23</CitationSubRef>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483575" Type="F">
<Para>
<Text>
Definitions of “supervisory authority”and “Swiss general insurance company”substituted for definition of “supervisory authority”in s. 96(1) inserted (5.1.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1993/3127" id="c05027" Class="UnitedKingdomStatutoryInstrument" Year="1993" Number="3127">S.I. 1993/3127</Citation>
,
<CitationSubRef id="c05028" URI="http://www.legislation.gov.uk/id/uksi/1993/3127/regulation/4" Operative="true" CitationRef="c05027" SectionRef="regulation-4">reg. 4</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483577" Type="F">
<Para>
<Text>
Definition of “UK company”in s. 96(1) inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c05029" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c05030" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/1/n" Operative="true" CitationRef="c05029" SectionRef="regulation-50-1-n">reg. 50(1)(n)</CitationSubRef>
</Text>
</Para>
</Commentary>
<Commentary id="c1483578" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/ukpga/1958/72" id="c05031" Year="1958" Class="UnitedKingdomPublicGeneralAct" Number="72">1958 c. 72</Citation>
.
</Text>
</Para>
</Commentary>
<Commentary id="c1483579" Type="M">
<Para>
<Text>
<Citation URI="http://www.legislation.gov.uk/id/apni/1968/6" id="c05032" Class="NorthernIrelandParliamentAct" Year="1968" Number="6">1968 c. 6 (N.I.)</Citation>
</Text>
</Para>
</Commentary>
<Commentary id="c1483580" Type="F">
<Para>
<Text>
By
<Citation URI="http://www.legislation.gov.uk/id/uksi/1996/1669" id="c05033" Class="UnitedKingdomStatutoryInstrument" Year="1996" Number="1669">S.I. 1996/1669</Citation>
,
<CitationSubRef id="c05034" URI="http://www.legislation.gov.uk/id/uksi/1996/1669/regulation/23" CitationRef="c05033" SectionRef="regulation-23">reg. 23</CitationSubRef>
,
<CitationSubRef id="c05035" URI="http://www.legislation.gov.uk/id/uksi/1996/1669/schedule/5/paragraph/7" Operative="true" CitationRef="c05033" SectionRef="schedule-5-paragraph-7">Sch. 5 para. 7</CitationSubRef>
(with
<CitationSubRef id="c05036" URI="http://www.legislation.gov.uk/id/uksi/1996/1669/regulation/5/6" CitationRef="c05033" SectionRef="regulation-5-6">reg. 5(6)</CitationSubRef>
) it is provided (18.7.1996) that s. 96(2B) shall be inserted after s. 96(3)
</Text>
</Para>
</Commentary>
<Commentary id="c1483581" Type="F">
<Para>
<Text>
<CitationSubRef id="c05037" URI="http://www.legislation.gov.uk/id/ukpga/1982/50/section/96/5" SectionRef="section-96-5">S. 96(5)</CitationSubRef>
inserted (1.7.1994) by
<Citation URI="http://www.legislation.gov.uk/id/uksi/1994/1696" id="c05038" Class="UnitedKingdomStatutoryInstrument" Year="1994" Number="1696">S.I. 1994/1696</Citation>
,
<CitationSubRef id="c05039" URI="http://www.legislation.gov.uk/id/uksi/1994/1696/regulation/50/2" Operative="true" CitationRef="c05038" SectionRef="regulation-50-2">reg. 50(2)</CitationSubRef>
</Text>
</Para>
</Commentary>
</Commentaries>
</Legislation>