2 Insurance in connection with overseas investment.U.K.
(1)The Secretary of State may make arrangements for insuring any person carrying on business in the United Kingdom against risks of losses arising—
(a)in connection with any investment of resources by the insured in enterprises carried on outside the United Kingdom, or
(b)in connection with guarantees given by the insured in respect of any investment of resources by others in such enterprises, being enterprises in which the insured has any interest,
being losses resulting directly or indirectly from war, expropriation, restrictions on remittances and other similar events.
(2)The Secretary of State may make arrangements for insuring persons providing such insurance.
(3)References in subsection (1) above to a person carrying on business in the United Kingdom and to the insured include any company controlled directly or indirectly by him.
Commencement Information
I1S. 2 wholly in force at 23.10.1991 see s. 15(6) and S.I. 1991/2430, art. 2