<p class="LegClearFix LegSP1Container LegExtentContainer"><span class="LegDS LegP1No" id="schedule-15-paragraph-14"><span><span class="LegChangeDelimiter">[</span><a class="LegCommentaryLink" href="#commentary-c15394501" title="View the commentary text for this item" id="reference-c15394501">F2</a><span class="LegAddition">14</span></span></span><span class="LegExtentRestriction" id="extent-U.K." title="Applies to "><span class="btr"/>U.K.<span class="bbl"/><span class="bbr"/></span><span class="LegDS LegRHS LegP1Text"><span class="LegAddition">The Commission shall not confirm a transfer of any engagements the fulfilment of which will constitute the carrying on in the United Kingdom of insurance business unless it is satisfied—</span></span></p><p class="LegClearFix LegSP3Container"><span class="LegDS LegLHS LegP3No" id="schedule-15-paragraph-14-a"><span class="LegAddition">(a)</span></span><span class="LegDS LegRHS LegP3Text"><span class="LegAddition">that the proposed transferee will be able to fulfil the engagements without authorisation under Part I of the Insurance Companies Act 1982 or section 32 of this Act; or</span></span></p><p class="LegClearFix LegSP3Container"><span class="LegDS LegLHS LegP3No" id="schedule-15-paragraph-14-b"><span class="LegAddition">(b)</span></span><span class="LegDS LegRHS LegP3Text"><span class="LegAddition">that there is no substantial risk that the proposed transferee will not have such authorisation as will permit it to fulfil them.</span><span class="LegChangeDelimiter">]</span></span></p><div class="LegAnnotations"><p class="LegAnnotationsGroupHeading">Textual Amendments</p><div class="LegCommentaryItem" id="commentary-c15394501"><p class="LegCommentaryPara"><span class="LegCommentaryType"><a href="#reference-c15394501" title="Go back to reference for this commentary item">F2</a></span><span class="LegCommentaryText"><a class="LegCitation" href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/15/paragraph/14" title="Go to Sch. 15 para. 14" rel="cite">Sch. 15 para. 14</a> omitted (17.8.2001 for specified purposes and otherwise<em>prosp.</em>) by virtue of <a class="LegCitation" title="Go to item of legislation" rel="cite" href="http://www.legislation.gov.uk/id/uksi/2001/2617">S.I. 2001/2617</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/2/a" title="Go to S.I. 2001/2617 arts. 2(a)" rel="cite">arts. 2(a)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/8/1" title="Go to S.I. 2001/2617 8(1)" rel="cite">8(1)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/13/1" title="Go to S.I. 2001/2617 13(1)" rel="cite">13(1)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/schedule/3/paragraph/128/r" title="Go to S.I. 2001/2617 Sch. 3 para. 128(r)" rel="cite">Sch. 3 para. 128(r)</a> (with <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/13/3" title="Go to S.I. 2001/2617 art. 13(3)" rel="cite">art. 13(3)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/schedule/5" title="Go to S.I. 2001/2617 Sch. 5" rel="cite"><strong>Sch. 5</strong></a>) and is repealed (<em>prosp.</em>) by <a class="LegCitation" title="Go to item of legislation" rel="cite" href="http://www.legislation.gov.uk/id/uksi/2001/3538">S.I. 2001/3538</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/3538/article/2/1" title="Go to S.I. 2001/3538 art. 2(1)" rel="cite"><strong>art. 2(1)</strong></a></span></p></div></div><div class="LegAnnotations"><p class="LegAnnotationsGroupHeading">Textual Amendments</p><div class="LegCommentaryItem" id="commentary-c15394501"><p class="LegCommentaryPara"><span class="LegCommentaryType"><a href="#reference-c15394501" title="Go back to reference for this commentary item">F2</a></span><span class="LegCommentaryText"><a class="LegCitation" href="http://www.legislation.gov.uk/id/ukpga/1992/40/schedule/15/paragraph/14" title="Go to Sch. 15 para. 14" rel="cite">Sch. 15 para. 14</a> omitted (17.8.2001 for specified purposes and otherwise<em>prosp.</em>) by virtue of <a class="LegCitation" title="Go to item of legislation" rel="cite" href="http://www.legislation.gov.uk/id/uksi/2001/2617">S.I. 2001/2617</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/2/a" title="Go to S.I. 2001/2617 arts. 2(a)" rel="cite">arts. 2(a)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/8/1" title="Go to S.I. 2001/2617 8(1)" rel="cite">8(1)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/13/1" title="Go to S.I. 2001/2617 13(1)" rel="cite">13(1)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/schedule/3/paragraph/128/r" title="Go to S.I. 2001/2617 Sch. 3 para. 128(r)" rel="cite">Sch. 3 para. 128(r)</a> (with <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/article/13/3" title="Go to S.I. 2001/2617 art. 13(3)" rel="cite">art. 13(3)</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/2617/schedule/5" title="Go to S.I. 2001/2617 Sch. 5" rel="cite"><strong>Sch. 5</strong></a>) and is repealed (<em>prosp.</em>) by <a class="LegCitation" title="Go to item of legislation" rel="cite" href="http://www.legislation.gov.uk/id/uksi/2001/3538">S.I. 2001/3538</a>, <a class="LegCitation" href="http://www.legislation.gov.uk/id/uksi/2001/3538/article/2/1" title="Go to S.I. 2001/3538 art. 2(1)" rel="cite"><strong>art. 2(1)</strong></a></span></p></div></div></div> </div>

SCHEDULES

SCHEDULE 15 U.K. Amalgamations, Transfers of Engagements and Conversion: Supplementary

Modifications etc. (not altering text)

C1 Sch. 15: power to modify conferred (16.1.2009) by Building Societies (Funding) and Mutual Societies (Transfers) Act 2007 (c. 26), ss. 3, 6(2); S.I. 2009/36, art. 2

Part II U.K. Confirmation by [F1 appropriate authority]

Textual Amendments

F1 Words in Sch. 15 Pt. 2 heading substituted (1.4.2013) by The Financial Services Act 2012 (Mutual Societies) Order 2013 (S.I. 2013/496), art. 1(1), Sch. 9 para. 56(5) (with Sch. 12)

Confirmation of transfers of engagements U.K.