SCHEDULES

SCHEDULE 12 Transfer schemes: certificates

Part I Insurance Business Transfer Schemes

Certificates as to long-term business

4

A certificate under this paragraph is one given by the F1appropriate regulator and certifying that the authority responsible for supervising persons who effect or carry out contracts of insurance in the State of the commitment has been notified of the proposed scheme and that—

(a)

that authority has consented to the proposed scheme; or

(b)

the period of three months beginning with the notification has elapsed and that authority has not refused its consent.