Statutory notice by insurer in relation to long term policy
43. For subsection (1) of section 75(1) (statutory notice by insurer in relation to long term policy) substitute—
“(1) Subject to subsections (5) and (5A) below, unless the requirements of subsection (1A) below are fulfilled—
(a)no insurance company which is authorised under section 3 or 4 above and no member of Lloyd’s shall enter into a contract the effecting of which constitutes the carrying on of long term business in the United Kingdom;
(b)no EC company shall enter into a contract the effecting of which constitutes the carrying on of such business or the provision of long term insurance in the United Kingdom; and
(c)no EFTA company shall enter into a contract the effecting of which constitutes the provision of such insurance in the United Kingdom.”
Subsection (1) was amended by S.I. 1993/1327, reg 2(1).