PART 2 U.K. Power to make regulations in respect of the regulation of insurance and reinsurance firms

Matters previously dealt with under the Solvency 2 Directive U.K.

2.—(1) The Treasury may by regulations made by statutory instrument make provision in respect of the matters specified in Schedule 1.

(2) Regulations under paragraph (1) may—

(a) modify provision made by or under an enactment;

(b) make different provision for different purposes;

(c) include incidental, supplementary, consequential, transitional, transitory or saving provision.

(3) For the purposes of paragraph (2)(a), “enactment” does not include an enactment comprised in primary legislation.

(4) A statutory instrument which contains regulations under paragraph (1) is subject to annulment in pursuance of a resolution of either House of Parliament.

Commencement Information

I1 Reg. 2 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)