Statutory Instrument 1993 No. 174

The Insurance Companies (Amendment) Regulations 1993

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© Crown Copyright 1993

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1993 No. 174

INSURANCE

The Insurance Companies (Amendment) Regulations 1993

Whereas the Secretary of State is a Minister designated^[1] for the purposes of section 2(2) of the European Communities Act 1972^[2] in relation to the authorisation of the carrying on of insurance business and the regulation of such business and its conduct and in relation to the transfer of long term business from one insurance undertaking to another;

And whereas a draft of these Regulations has been approved by a resolution of each House of Parliament pursuant to section 2(2) of and paragraph 2(2) of Schedule 2 to that Act;

Now, therefore, the Secretary of State in exercise of the powers conferred on him by section 2(2) of that Act and of all other powers enabling him in that behalf hereby makes the following Regulations:-

Citation, commencement and purpose
    1.—(1)  These Regulations may be cited as the Insurance Companies (Amendment) Regulations 1993 and shall come into force on 20th May 1993.

    (2)  In these Regulations-

"the 1982 Act" means the Insurance Companies Act 1982^[3];


"the 1986 Act" means the Financial Services Act 1986^[4];


"the 1992 Regulations" means the Insurance Companies (Amendment) Regulations 1992^[5].

    (3)  These Regulations give effect to Council Directive 90/619/EEC of 8 November 1990^[6] on the coordination of laws, regulations and administrative provisions relating to direct life assurance, laying down provisions to facilitate the effective exercise of freedom to provide services and amending Directive 79/267/EEC^[7].

[1] S.I. 1976/2141; S.I. 1990/600. back

[2] 1972 c. 68. back

[3] 1982 c. 50. back

[4] 1986 c. 60. back

[5] S.I. 1992/2890. back

[6] O.J. No. L330, 29.11.90, p.50. back

[7] O.J. No. L63, 13.3.79, p.1; amended by the 1979 Act of Accession (Greece) (O.J. No. L291, 19.11.79, p.17), the 1985 Act of Accession (Portugal and Spain) (O.J. No. L302, 15.11.85, p.23) and Council Directive 90/619/EEC. back

Explanatory Note