Procedure for withdrawing authorisationU.K.
10(1)Subject to sub-paragraph (6) below, if the Commission proposes to give a direction under section 40 or section 41 above it shall serve on the society and on each of its officers a notice stating—
(a)that the Commission proposes to give such a direction;
(b)the grounds for the proposed direction; and
(c)that the society may make representations with respect to the proposed direction within such period of not less than 14 days as may be specified in the notice and that, if the society so requests, it will be afforded an opportunity of being heard by the Commission within that period.
(2)If the grounds for the proposed direction include the ground that a person is not a fit and proper person to hold office in the society, the Commission shall also serve the notice specified in sub-paragraph (1) above on the person concerned giving him the like right to make representations and to be heard with respect to his fitness and propriety for office.
(3)Before reaching a decision on whether to give a direction, the Commission shall consider any representations made to it in accordance with sub-paragraph (1) or (2) above.
(4)Except where the Commission proposes to impose conditions instead of giving a direction (in which case paragraphs 7 and 8 above apply), the Commission shall serve on the society and each of its officers a notice stating its decision and, where it has decided to give a direction, the grounds for the decision.
(5)The Commission may not give a direction on grounds other than those stated, or grounds included in those stated, in the notice served under sub-paragraph (1) above.
(6)Sub-paragraphs (1) to (5) above shall not apply in relation to a direction to a friendly society which is given at the request of the society or under section 40(2) or (3)(g) above; but the notice of any such direction sent to the secretary of the society shall state the grounds on which it is given.
Commencement Information
11(1)On giving a direction in relation to a friendly society under section 40 or 41 above the Commission shall—
(a)publish notice of it in one or more of the London, Edinburgh and Belfast Gazettes, and in any such other ways as the Commission considers appropriate for notifying the public;
(b)send a copy of it to the secretary of the society concerned and to the central office;
(c)where it relates only to part of the business covered by the society’s authorisation, send a copy of the terms of the authorisation, after taking account of the direction, to the secretary of the society and to the central office.
[F1(d)in the case of a direction given in relation to a society to which section 37(2) or (3) above applies which is or has been–
(i)carrying on insurance business in an EEA State other than the United Kingdom through an overseas branch in that State, or
(ii)providing insurance in an EEA State other than the United Kingdom through an establishment in another EEA State,
notify the supervisory authority in that State, or, as the case may be, in each of those States of the direction.]
(2)The central office—
(a)shall keep the copy of a direction sent to it under sub-paragraph (1)(b) above on the public file of the society;
(b)where a copy of the terms of the society’s authorisation is sent to it under sub-paragraph (1)(c) above, shall keep the copy on the public file of the society.
Textual Amendments
F1Sch. 13 para. 11(1)(d) inserted (1.9.1994) by S.I. 1994/1984, reg. 7(3)
Commencement Information