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Financial Services Act 1986 (Repealed)
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Changes over time for: Paragraph 2
Version Superseded: 20/05/1993
Alternative versions:
- 01/02/1991- Amendment
- 01/10/1991
Point in time - 20/05/1993- Amendment
- Stop date 01/12/2001- Amendment
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Point in time view as at 01/10/1991. This version of this provision has been superseded.
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Financial Services Act 1986 (Repealed), Paragraph 2 is up to date with all changes known to be in force on or before 16 November 2024.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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2(1)An insurance company to which section 22 of this Act applies shall not be an authorised person except by virtue of that section.
(2)If an insurance company to which Part II of the M1Insurance Companies Act 1982 applies but to which section 22 of this Act does not apply becomes an authorised person by virtue of any other provision of this Act it shall be an authorised person only as respects the management of the investments of any pension fund which is established solely for the benefit of the officers or employees and their dependants of that company or of any other body corporate in the same group as that company.
(3)An insurance company to which section 31 of this Act applies shall not, so long as it is an authorised person by virtue of that section, be an authorised person by virtue of any other provision of this Act.
(4)None of the provisions of Part I of this Act shall be construed as authorising any person to carry on insurance business in any case in which he could not lawfully do so apart from those provisions.
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