The Insurance Brokers (Registration) Act 1977 (Amendment) Order 1995

Statutory Instruments

1995 No. 2906

INSURANCE

The Insurance Brokers (Registration) Act 1977 (Amendment) Order 1995

Made

8th November 1995

Coming into force

1st January 1997

Whereas a draft of this Order has been approved by resolution of each House of Parliament pursuant to section 28(3) of the Insurance Brokers (Registration) Act 1977(1).

Now, therefore, the Secretary of State in exercise of the powers conferred upon him by sections 3(4) and 28(3) of the said Act, and of all other powers enabling him in that behalf, after consulting the Insurance Brokers Registration Council, hereby makes the following Order:—

Citation and commencement

1.—(1) This Order may be cited as the Insurance Brokers (Registration) Act 1977 (Amendment) Order 1995 and shall come into force on 1st January 1997.

(2) In this Order “the 1977 Act” means the Insurance Brokers (Registration) Act 1977.

Qualifications for registration

2.—(1) Section 3 of the 1977 Act (qualifications for registration) is amended as follows.

(2) In paragraph (c) of subsection (1), for the words from “carried on business”to the end, substitute

• “pursued in an EEA State, within the meaning of section 96(1) of the Insurance Companies Act 1982,(2) other than the United Kingdom, any of the activities set out in Article 2(2)(a) of Council Directive 77/92/EEC of 13 December 1976(3) (which relates to insurance agents and brokers) for a period which—

  (i)

  meets the requirements set out in paragraph (a), (b) or (c) of Article 4 of that Directive, and

  (ii)

  did not end more than ten years before the date on which the application is made.”

(3) Omit paragraphs (d) to (h) of subsection (1).

(4) In paragraph (b) of subsection (2), for the words “within paragraph (a), (b), (e) or (f)” substitute “within paragraph (a) or (b)”.

Jonathan Evans

Parliamentary Under-Secretary of State,

Department of Trade and Industry

8th November 1995

Explanatory Note

(This note is not part of the Order)

This Order amends section 3 of the Insurance Brokers (Registration) Act 1977 by deleting as qualifications for registration those set out in paragraphs (d) to (h) of sub-section (l) and amending qualifications for registration set out in paragraph (c). Consequential amendments are made to sub-section (2).

A Compliance Cost Assessment has been placed in the libraries of both Houses of Parliament. Copies are also available from DTI, 5.H.26, 1 Victoria Street, London SW1H 0ET.

(1)

1977 c. 46.

(2)

1982 c. 50. The definition of EEA State was inserted in section 96(1) by S.I. 1994/1696, reg 50(1)(g).

(3)

O.J. L26. 31.1.1977. p. 14.