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SCHEDULES

SCHEDULE 12U.K. Transfer schemes: certificates

Part IU.K. Insurance Business Transfer Schemes

Modifications etc. (not altering text)

C1Sch. 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—U.K.

(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 5[F1;

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

(2)This sub-paragraph applies if—

(a)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—

(a)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—

(a)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.

[F6(5)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.]