http://www.legislation.gov.uk/uksi/1993/174/regulation/6/madeThe Insurance Companies (Amendment) Regulations 1993Business practice and regulationKing's Printer of Acts of Parliament2015-02-26INSURANCEThese regulations make amendments to the Insurance Companies Act 1982 (“the 1982 Act”), the Financial Services Act 1986 (“the 1986 Act”), the Insurance Companies (Amendment) Regulations 1992 (“the 1992 Regulations”) and the Contracts (Applicable Law) Act 1990. The purpose of these amendments is to implement Council Directive 90/619/EEC (O.J. No. L330, 29.11.90, p.50) relating to life insurance. Council Directive 79/267/EEC (O.J. No. L63, 13.3.79, p.1) created a supervisory regime for direct life “establishment” business (ie life insurance business carried on by insurers through an establishment in a member State). Directive 90/619/EEC introduces changes to that regime, and makes new provision for the regulation of insurers who provide direct life insurance to cover commitments in a member State on a “services” basis, ie otherwise than through an establishment in that State. These regulations also limit the application of section 183 of the 1986 Act (reciprocal facilities for financial business).amendments of the 1982 actInterpretation6.(1)

Part V of the 1982 Act (supplementary provisions) shall be amended as follows.

(2)

In subsection (1) of section 96

Section 96 was amended by the Companies Consolidation (Consequential Provisions) Act 1985 (c. 9), Schedule 2, by the Companies Consolidation (Consequential Provisions) (Northern Ireland) Order 1986 (S.I. 1986/1035 (N.I.9)), by the Insolvency Act 1986 (c. 45), Schedule 14 and by S.I. 1992/2890, reg. 9(3).

(general interpretation)–

(a)

after the definition of “claims representative” insert–

“commitment” means a commitment represented by insurance business ofany of the classes specified in Schedule 1 to this Act;

(b)

after the definition of “margin of solvency” insert–

“member State of the commitment”, in relation to a commitment entered into at any date, means–

(a)

where the policy holder is an individual, the member State in which he had his habitual residence at that date; or

(b)

where the policy holder is not an individual, the member State in which the establishment of the policy holder to which the commitment relates wassituated at that date;

.

(3)

In the side-note to section 96A

Section 96A was inserted by S.I. 1990/1333, reg. 2(1), and amended by S.I. 1992/2890, reg. 9(4).

(interpretation of expressions derived from general insurance Directives), omit the word “general”.

(4)

For subsection (1B) of that section substitute–(1B)

In this Act–

(a)

“the first long term insurance Directive” means Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance;

(b)

“the second long term insurance Directive” means Council Directive 90/619/EEC of 8 November 1990 on the coordination of laws, regulations and administrative provisions relating to direct life assurance, laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 79/267/EEC;

and “the long term insurance Directives” means those Directives.

(5)

In subsection (2) of that section, after the word “general” insert the words “or long term”.

This XML file does not appear to have any style information associated with it. The document tree is shown below.
<akomaNtoso xmlns:uk="https://www.legislation.gov.uk/namespaces/UK-AKN" xmlns:ukl="http://www.legislation.gov.uk/namespaces/legislation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns="http://docs.oasis-open.org/legaldocml/ns/akn/3.0" xsi:schemaLocation="http://docs.oasis-open.org/legaldocml/ns/akn/3.0 http://docs.oasis-open.org/legaldocml/akn-core/v1.0/cos01/part2-specs/schemas/akomantoso30.xsd">
<act name="uksi">
<meta>
<identification source="#">
<FRBRWork>
<FRBRthis value="http://www.legislation.gov.uk/id/uksi/1993/174"/>
<FRBRuri value="http://www.legislation.gov.uk/id/uksi/1993/174"/>
<FRBRdate date="1993-02-01" name="made"/>
<FRBRauthor href="http://www.legislation.gov.uk/id/government/uk"/>
<FRBRcountry value="GB-UKM"/>
<FRBRsubtype value="regulation"/>
<FRBRnumber value="174"/>
<FRBRname value="S.I. 1993/174"/>
<FRBRprescriptive value="true"/>
</FRBRWork>
<FRBRExpression>
<FRBRthis value="http://www.legislation.gov.uk/uksi/1993/174/made"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/1993/174/made"/>
<FRBRdate date="1993-02-01" name="made"/>
<FRBRauthor href="#"/>
<FRBRlanguage language="eng"/>
</FRBRExpression>
<FRBRManifestation>
<FRBRthis value="http://www.legislation.gov.uk/uksi/1993/174/made/data.akn"/>
<FRBRuri value="http://www.legislation.gov.uk/uksi/1993/174/made/data.akn"/>
<FRBRdate date="2024-11-30Z" name="transform"/>
<FRBRauthor href="http://www.legislation.gov.uk"/>
<FRBRformat value="application/akn+xml"/>
</FRBRManifestation>
</identification>
<lifecycle source="#">
<eventRef refersTo="#made" date="1993-02-01" eId="date-made" source="#"/>
<eventRef refersTo="#coming-into-force" date="1993-05-20" eId="date-cif-1" source="#"/>
</lifecycle>
<analysis source="#">
<otherAnalysis source=""/>
</analysis>
<references source="#">
<TLCEvent eId="made" href="" showAs="Made"/>
<TLCEvent eId="cif" href="" showAs="ComingIntoForce"/>
</references>
<proprietary xmlns:ukm="http://www.legislation.gov.uk/namespaces/metadata" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:dct="http://purl.org/dc/terms/" source="#">
<dc:identifier>http://www.legislation.gov.uk/uksi/1993/174/regulation/6/made</dc:identifier>
<dc:title>The Insurance Companies (Amendment) Regulations 1993</dc:title>
<dc:subject>Business practice and regulation</dc:subject>
<dc:publisher>King's Printer of Acts of Parliament</dc:publisher>
<dc:modified>2015-02-26</dc:modified>
<dc:subject scheme="SIheading">INSURANCE</dc:subject>
<dc:description>These regulations make amendments to the Insurance Companies Act 1982 (“the 1982 Act”), the Financial Services Act 1986 (“the 1986 Act”), the Insurance Companies (Amendment) Regulations 1992 (“the 1992 Regulations”) and the Contracts (Applicable Law) Act 1990. The purpose of these amendments is to implement Council Directive 90/619/EEC (O.J. No. L330, 29.11.90, p.50) relating to life insurance. Council Directive 79/267/EEC (O.J. No. L63, 13.3.79, p.1) created a supervisory regime for direct life “establishment” business (ie life insurance business carried on by insurers through an establishment in a member State). Directive 90/619/EEC introduces changes to that regime, and makes new provision for the regulation of insurers who provide direct life insurance to cover commitments in a member State on a “services” basis, ie otherwise than through an establishment in that State. These regulations also limit the application of section 183 of the 1986 Act (reciprocal facilities for financial business).</dc:description>
<ukm:SecondaryMetadata>
<ukm:DocumentClassification>
<ukm:DocumentCategory Value="secondary"/>
<ukm:DocumentMainType Value="UnitedKingdomStatutoryInstrument"/>
<ukm:DocumentStatus Value="final"/>
<ukm:DocumentMinorType Value="regulation"/>
</ukm:DocumentClassification>
<ukm:Year Value="1993"/>
<ukm:Number Value="174"/>
<ukm:Made Date="1993-02-01"/>
<ukm:ComingIntoForce>
<ukm:DateTime Date="1993-05-20"/>
</ukm:ComingIntoForce>
<ukm:ISBN Value="0110331745"/>
</ukm:SecondaryMetadata>
<ukm:Statistics>
<ukm:TotalParagraphs Value="17"/>
<ukm:BodyParagraphs Value="17"/>
<ukm:ScheduleParagraphs Value="0"/>
<ukm:AttachmentParagraphs Value="0"/>
<ukm:TotalImages Value="1"/>
</ukm:Statistics>
</proprietary>
</meta>
<body>
<part eId="part-2">
<heading>amendments of the 1982 act</heading>
<hcontainer name="regulation" eId="regulation-6" uk:target="true">
<heading>Interpretation</heading>
<num>6.</num>
<paragraph eId="regulation-6-1">
<num>(1)</num>
<content>
<p>
Part V of the
<abbr title="Insurance Companies Act 1982 c. 50">1982 Act</abbr>
(supplementary provisions) shall be amended as follows.
</p>
</content>
</paragraph>
<paragraph eId="regulation-6-2">
<num>(2)</num>
<intro>
<p>
In subsection (1) of section 96
<authorialNote class="footnote" eId="f00016" marker="16">
<p>
Section 96 was amended by the Companies Consolidation (Consequential Provisions) Act
<ref eId="c00031" href="http://www.legislation.gov.uk/id/ukpga/1985/9">1985 (c. 9)</ref>
, Schedule 2, by the Companies Consolidation (Consequential Provisions) (Northern Ireland) Order 1986 (
<abbr class="acronym" title="Statutory Instrument">S.I.</abbr>
<ref eId="c00032" href="http://www.legislation.gov.uk/id/nisi/1986/1035">1986/1035 (N.I.9)</ref>
), by the Insolvency Act
<ref eId="c00033" href="http://www.legislation.gov.uk/id/ukpga/1986/45">1986 (c. 45)</ref>
, Schedule 14 and by
<abbr class="acronym" title="Statutory Instrument">S.I.</abbr>
<ref eId="c00034" href="http://www.legislation.gov.uk/id/uksi/1992/2890">1992/2890</ref>
, reg. 9(3).
</p>
</authorialNote>
(general interpretation)–
</p>
</intro>
<level class="para1" eId="regulation-6-2-a">
<num>(a)</num>
<content>
<p>
<mod>
after the definition of “claims representative” insert–
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<hcontainer name="definition">
<content>
<p>“commitment” means a commitment represented by insurance business ofany of the classes specified in Schedule 1 to this Act;</p>
</content>
</hcontainer>
</quotedStructure>
</mod>
</p>
</content>
</level>
<level class="para1" eId="regulation-6-2-b">
<num>(b)</num>
<content>
<p>
<mod>
after the definition of “margin of solvency” insert–
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<blockList class="unordered none" ukl:Name="UnorderedList" ukl:Decoration="none">
<item>
<p>“member State of the commitment”, in relation to a commitment entered into at any date, means–</p>
<blockList class="ordered alpha parens" ukl:Name="OrderedList" ukl:Type="alpha" ukl:Decoration="parens">
<item>
<num>(a)</num>
<p>where the policy holder is an individual, the member State in which he had his habitual residence at that date; or</p>
</item>
<item>
<num>(b)</num>
<p>where the policy holder is not an individual, the member State in which the establishment of the policy holder to which the commitment relates wassituated at that date;</p>
</item>
</blockList>
</item>
</blockList>
</quotedStructure>
<inline name="appendText">.</inline>
</mod>
</p>
</content>
</level>
</paragraph>
<paragraph eId="regulation-6-3">
<num>(3)</num>
<content>
<p>
In the side-note to section 96A
<authorialNote class="footnote" eId="f00017" marker="17">
<p>
Section 96A was inserted by
<abbr class="acronym" title="Statutory Instrument">S.I.</abbr>
<ref eId="c00035" href="http://www.legislation.gov.uk/id/uksi/1990/1333">1990/1333</ref>
, reg. 2(1), and amended by
<abbr class="acronym" title="Statutory Instrument">S.I.</abbr>
<ref eId="c00036" href="http://www.legislation.gov.uk/id/uksi/1992/2890">1992/2890</ref>
, reg. 9(4).
</p>
</authorialNote>
(interpretation of expressions derived from general insurance Directives), omit the word “general”.
</p>
</content>
</paragraph>
<paragraph eId="regulation-6-4">
<num>(4)</num>
<content>
<p>
<mod>
For subsection (1B) of that section substitute–
<quotedStructure startQuote="" endQuote="" uk:context="unknown" uk:docName="unknown" ukl:TargetClass="unknown" ukl:TargetSubClass="unknown" ukl:Context="unknown" ukl:Format="default">
<paragraph>
<num>(1B)</num>
<intro>
<p>In this Act–</p>
</intro>
<level class="para1">
<num>(a)</num>
<content>
<p>
“the first long term insurance Directive” means Council Directive
<ref eId="c00003" href="http://www.legislation.gov.uk/european/directive/1979/0267">
79/267/
<abbr class="acronym" title="European Economic Community">EEC</abbr>
</ref>
of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance;
</p>
</content>
</level>
<level class="para1">
<num>(b)</num>
<content>
<p>
“the second long term insurance Directive” means Council Directive
<ref eId="c00004" href="http://www.legislation.gov.uk/european/directive/1990/0619">
90/619/
<abbr class="acronym" title="European Economic Community">EEC</abbr>
</ref>
of 8 November 1990 on the coordination of laws, regulations and administrative provisions relating to direct life assurance, laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive
<ref eId="c00005" href="http://www.legislation.gov.uk/european/directive/1979/0267">
79/267/
<abbr class="acronym" title="European Economic Community">EEC</abbr>
</ref>
;
</p>
</content>
</level>
<wrapUp>
<p>and “the long term insurance Directives” means those Directives.</p>
</wrapUp>
</paragraph>
</quotedStructure>
</mod>
</p>
</content>
</paragraph>
<paragraph eId="regulation-6-5">
<num>(5)</num>
<content>
<p>In subsection (2) of that section, after the word “general” insert the words “or long term”.</p>
</content>
</paragraph>
</hcontainer>
</part>
</body>
</act>
</akomaNtoso>