- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (a wnaed Fel)
Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).
6.—(1) Section 116 (effect of insurance business transfers authorised in other EEA States) is amended as follows.
(2) In subsection (2)(1)—
(a)for paragraphs (a) and (b) substitute—
“(a)an undertaking authorised in an EEA State other than the United Kingdom under Article 162 of the Solvency 2 Directive;
(b)an undertaking whose head office is not in an EEA State and which is authorised under the law of an EEA State other than the United Kingdom to carry out reinsurance activities in its territory (as mentioned in Article 174 of the Solvency 2 Directive).”; and
(b)omit paragraph (c).
(3) For subsections (5)(2) and (6)(3) substitute—
“(5) “Authorised transfer” means—
(a)in subsection (1), a transfer authorised by the supervisory authorities of the home State of the EEA firm in accordance with Article 39 of the Solvency 2 Directive;
(b)in subsection (2), a transfer authorised in an EEA State other than the United Kingdom in accordance with—
(i)Article 164 of the Solvency 2 Directive; or
(ii)the provisions in the law of that EEA State which provide for the authorisation of transfers of all or part of a portfolio of contracts of an undertaking authorised to carry out reinsurance activities in its territory (as mentioned in Article 174 of the Solvency 2 Directive).
(6) “UK policy”, in relation to an authorised transfer, means a policy evidencing a contract of insurance or reinsurance to which the applicable law is the law of a part of the United Kingdom.”.
(4) After subsection (7) insert—
“(7A) In this section the “home State” is the EEA State which is the “home Member State” for the purposes of the Solvency 2 Directive (which is to be determined in accordance with Article 13(8) of that directive).”.
Section 116(2) was substituted by S.I. 2007/3253.
Section 116(5) was amended by S.I. 2004/3379 and S.I. 2007/3253.
Section 166(6) was amended by S.I. 2007/3253.
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Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:
Defnyddiwch y ddewislen hon i agor dogfennau hanfodol sy’n cyd-fynd â’r ddeddfwriaeth a gwybodaeth am yr eitem hon o ddeddfwriaeth. Gan ddibynnu ar yr eitem o ddeddfwriaeth sy’n cael ei gweld gall hyn gynnwys:
liciwch ‘Gweld Mwy’ neu ddewis ‘Rhagor o Adnoddau’ am wybodaeth ychwanegol gan gynnwys