AMENDMENTS OF THE 1982 ACT
Extended meaning of “member State” for purposes of Act3
1
After subsection (6) of section 2 of the 1982 Act (restriction on carrying on insurance business) insert—
7
In relation to any time before it becomes a member State, each of the following, namely, Austria, Iceland, Norway and Sweden, shall be treated as if it were a member State for all purposes of this Act.
8
In relation to any time before it becomes a member State, Finland shall be treated as if it were a member State for all purposes of this Act relating to the carrying on of long term business or the provision of long term insurance.
2
In subsection (1) of section 96 of that Act (general interpretation), after the definitions of “margin of solvency” and related expressions insert—
‘member State’ shall be construed in accordance with section 2(7) and (8) above;