SCHEDULES

SCHEDULE 12 Transfer schemes: certificates

C2Part I Insurance Business Transfer Schemes

Annotations:
Modifications etc. (not altering text)
C2

Sch. 12 Pt. I (paras. 1-6) applied (1.12.2001) by S.I. 2001/3626, arts. 1, 3(c)

1

1

For the purposes of section 111(2) the appropriate certificates, in relation to an insurance business transfer scheme, are—

a

a certificate under paragraph 2;

b

if sub-paragraph (2) applies, a certificate under paragraph 3;

c

if sub-paragraph (3) applies, a certificate under paragraph 4;

d

if sub-paragraph (4) applies, a certificate under paragraph 5F1;

e

if sub-paragraph (5) applies, the certificates under paragraph 5A.

2

This sub-paragraph applies if—

C1a

the authorised person concerned is a UK authorised person which has received authorisation under F2Article 4 of the life assurance consolidation directive or Article 6 or of the first non-life insurance directive from the Authority; and

b

the establishment from which the business is to be transferred under the proposed insurance business transfer scheme is in an EEA State other than the United Kingdom.

3

This sub-paragraph applies if—

C1a

the authorised person concerned has received authorisation under F3Article 4 F4or Article 51 of the life assurance consolidation directive from the Authority;

b

the proposed transfer relates to business which consists of the effecting or carrying out of contracts of long-term insurance; and

c

as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), an EEA State other than the United Kingdom is the State of the commitment.

4

This sub-paragraph applies if—

C1a

the authorised person concerned has received authorisation under Article 6 F5or Article 23 of the first non-life insurance directive from the Authority;

b

the business to which the proposed insurance business transfer scheme relates is business which consists of the effecting or carrying out of contracts of general insurance; and

c

as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), the risk is situated in an EEA State other than the United Kingdom.

F65

This sub-paragraph applies if—

a

the authorised person concerned has received authorisation under Article 23 of the first non-life insurance directive or Article 51 of the life assurance consolidation directive from the Authority; and

b

the proposed transfer is to a branch or agency, in an EEA State other than the United Kingdom, authorised under the same Article.