[F15A(1)The certificates under this paragraph are to be given—U.K.
(a)in the case of the certificate under sub-paragraph (2), by the Authority;
(b)in the case of the certificate under sub-paragraph (3), by the relevant authority.
(2)A certificate given under this sub-paragraph is one certifying that the relevant authority has been notified of the proposed scheme and that—
(a)the relevant authority has consented to the proposed scheme; or
(b)the period of three months beginning with the notification has elapsed and that relevant authority has not refused its consent.
(3)A certificate given under this sub-paragraph is one certifying that the law of the EEA State in which the transferee is set up permits such a transfer.
(4)“Relevant authority” means the competent authorities (within the meaning of the insurance directives) of the EEA State in which the transferee is set up.]
Textual Amendments
F1Sch. 12 para. 5A and cross-heading inserted (10.12.2007) by The Reinsurance Directive Regulations 2007 (S.I. 2007/3253), reg. 2(1), Sch. 1 para. 2(5)(f)