Part X General and Supplementary

General

102 Power to amend, etc. to assimilate to company law or law relating to persons carrying on insurance business.

1

If, on any modification of the statutory provisions in force in Great Britain or Northern Ireland relating—

a

to companies; or

b

to persons or bodies of persons, other than friendly societies, whether incorporated or not, carrying on insurance business (including reinsurance business),

it appears to the Treasury to be expedient to modify the relevant provisions of this Act for the purpose of assimilating the law relating to friendly societies to the law as so modified, the Treasury may, by order, make such modifications of the relevant provisions of this Act as they think appropriate for that purpose.

2

The “relevant provisions of this Act” are the following provisions as for the time being in force, that is to say—

a

so much of Part II as relates to winding up;

b

Part IV;

c

Part V;

d

Part VI; and

e

Part VIII.

3

The power conferred by subsection (1) above includes power to modify the relevant provisions of this Act so as to—

a

confer power to make orders, regulations, rules or other subordinate legislation;

b

create criminal offences; or

c

provide for the charging of fees but not any charge in the nature of taxation.

4

An order under this section may—

a

make consequential amendments of or repeals in other provisions of this Act; or

b

make such transitional or saving provisions as appear to the Treasury to be necessary or expedient.

5

In this section—

  • “modification” includes any additions and, as regards modifications of the statutory provisions relating to companies, any modification whether effected by any future Act or by an instrument made after the passing of this Act under an Act whenever passed; and

  • “statutory provisions” includes the provisions of any instrument made under an Act.