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49. In paragraph 1 of Schedule 3A to the 1982 Act(1) (law applicable to certain contracts of insurance), for sub-paragraph (6) substitute—
“(6) Where the risk—
(a)is situated in an EFTA state and falls within class 4, 5, 6, 7, 11 or 12 of Part I of Schedule 2 to this Act; or
(b)is situated in a member State and is a large risk,
the parties to the contract may choose any law.
(7) Where the risk is situated in a member State which has implemented the transitional provisions in Article 27 of the second general insurance Directive, the meaning of ‘large risk’ for the purposes of sub-paragraph (6) above shall be determined in accordance with the law applicable in that State.”
Schedule 3A was inserted by S.I. 1990/1333, reg 6(2) and amended by S.I. 1993/174, reg 5(4) and (5).
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