Insurance Companies Act 1958

1. Introductory Text

2. Preliminary

   1. 1. Companies to which Act applies

3. Restriction on carrying on of insurance business

   1. 2. Minimum paid up share capital

4. Accounts, etc.

   1. 3. Separation of funds relating to certain classes of business

   2. 4. Preparation of annual accounts and balance sheets

   3. 5. Periodic investigation of certain companies by actuary

   4. 6. Statement of business by Committee of Lloyd's, etc.

   5. 7. Statement of business by accident insurance company

   6. 8. Deposit of accounts, etc., with Board of Trade

   7. 9. Audit of accounts

   8. 10. Accounts, etc., to be laid before Parliament

5. Amalgamations and transfers

   1. 11. Provisions as to certain amalgamations and transfers

   2. 12. Statements relating to amalgamation or transfer to be deposited with Board of Trade

6. Insolvency and winding up

   1. 13. Margin of solvency for general business

   2. 14. Investigation of company of doubtful solvency

   3. 15. Winding up

   4. 16. Subsidiary companies

   5. 17. Supplemental provisions as to winding up

   6. 18. Reduction of contracts as alternative to winding up

7. Deposits with Accountant-General of Supreme Court

   1. 19. Treatment of deposits

   2. 20. Regulations as to deposits

8. Special provisions as to certain insurance companies

   1. 21. Mutual associations, industrial assurance companies and other special cases

   2. 22. Unregistered companies

   3. 23. Oversea companies

   4. 24. Bond investment companies

9. Miscellaneous and supplemental provisions

   1. 25. Advertisements, etc., referring to amount of authorised capital

   2. 26. Penalty for non-compliance with Act

   3. 27. Penalty for falsifying statements, etc.

   4. 28. Recovery and application of penalties

   5. 29. Service of notices

   6. 30. Documents deposited with Board of Trade

   7. 31. Exercise of powers of Board of Trade

   8. 32. Expenses

   9. 33. Interpretation

   10. 34. Provisions as to regulations

   11. 35. Savings

   12. 36. Consequential amendments, repeals, revocations and transitional provisions

   13. 37. Short title, commencement and extent

10. SCHEDULES

    1. FIRST SCHEDULE

       Requirements to be complied with by underwriters of Lloyd's and other approved associations

       1. 1. (1) Every underwriter shall, in accordance with the provisions of...

       2. 2. (1) The accounts of every underwriter shall be audited annually...

       3. 3. The underwriter shall, when required by the Committee of Lloyd's...

    2. SECOND SCHEDULE

       Adaptations, etc., for special cases

       1. PART I Mutual Associations

          1. 1. (1) Where, on the application of any association of persons...

          2. 2. Where, on the application of any association of persons, whether...

          3. 3. (1) Where, on the application of any association of persons,...

          4. 4. Where a direction under this Part of this Schedule is...

          5. 5. Any order made under this Part of this Schedule may...

       2. PART II Industrial Assurance Companies

          1. 6. (1) In its application to industrial assurance business this Act...

          2. 7. The provisions of this Act relating to industrial assurance business...

          3. 8. The Commissioner shall include in his annual report under section...

       3. PART III Miscellaneous Special Cases

          1. 9. Regulations may provide that, in their application to an insurance...

          2. 10. (1) Where, on the application of any insurance company carrying...

          3. 11. Where, on the application of any insurance company, the Board...

          4. 12. Where, on the application of an insurance company carrying on...

          5. 13. Regulations made under section twenty of this Act in respect...

          6. 14. Any order made under this Part of this Schedule may...

    3. THIRD SCHEDULE

       Rules for valuing policies and liabilities

       1. Life policies

          1. 1. (1) The value of a fife policy shall be the...

       2. Annuities

          1. 2. An annuity shall be valued according to the tables used...

       3. Bond investment policies

          1. 3. (1) The value of a bond investment policy shall be...

       4. Fire, accident, motor vehicle, marine, aviation and transit policies

          1. 4. The value of a current fire, accident, motor vehicle, marine,...

          2. 5. The present value of a periodic payment under an accident...

       5. Employers' liability policies

          1. 6. The value of a current employers' liability policy shall be...

          2. 7. The present value of a weekly payment under an employers'...

    4. FOURTH SCHEDULE

       Liquidator's duties as to valuation of liabilities

    5. FIFTH SCHEDULE

       Amendments and repeals

       1. PART I Consequential amendments of Industrial Assurance Act, 1923

       2. PART II Enactments Repealed