The Contracting Out (Functions in Relation to Insurance) Order 1998

PART III SUBORDINATE LEGISLATION(1)

Insurance (Lloyd's) Regulations 1983

67.  Functions conferred under or by virtue of any of the following provisions of the Insurance (Lloyd's) Regulations 1983(2):

(a) regulation 3(4) (financial resources);

(b) regulation 5(1A) (statement of business);

(c) paragraph 2 of Schedule 1 (modifications to Schedules 3 and 4 to the Insurance Companies Regulations 1994(3)); and

(d) paragraphs 4(1)(a), 6, 10 and 11 of Schedule 1A (calculation of prescribed surplus).

Insurance Companies Regulations 1994

68.  Functions conferred under any of the following provisions of the Insurance Companies Regulations 1994(4):

(a) regulation 9 (direction etc by the Treasury);

(b) regulation 12 (disposal of surplus);

(c) regulation 13 (cessation of business etc);

(d) regulation 14 (effect of direction etc);

(e) regulation 80 (insurance statistics: EFTA States and EFTA companies); and

(f) regulation 81 (insurance statistics: other member States).

Financial Institutions (Prudential Supervision) Regulations 1996

69.  Functions conferred under regulation 21(2) of the Financial Institutions (Prudential Supervision) Regulations 1996(5) (duty to notify close links to the Treasury).

(1)

For relevant amendments see the note on amendments following this instrument. By virtue of S.I. 1997/2781, article 8(2)(a) any reference to the Secretary of State in the following provisions is to be construed as if it were a reference to the Treasury.

(2)

S.I. 1983/224.

(3)

S.I. 1994/1516.

(4)

S.I. 1994/1516.

(5)

S.I. 1996/1669.