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Insurance Companies Act 1980

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This is the original version (as it was originally enacted).

12In regulation 2 of the Insurance Companies (Valuation of Assets) Regulations 1976—

(a)in the definition of " approved financial institution "—

(i)in sub-paragraph (c) for the words " Trustee Savings Bank Act 1969 " there shall be substituted the words

Trustee Savings Banks Act 1976;

(ii)in sub-paragraph (d) at the end there shall be added the words

or paragraph 23 of the Sixth Schedule to the Companies Act (Northern Ireland) 1960;

(b)in the definition of "equity share capital" for the words from " has" to " 1948" there shall be substituted the words ", in relation to a company, means its issued share capital excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution ;

(c)in the definition of " holding company " at the end there shall be added the words

or section 148 of the Companies Act (Northern Ireland) 1960;

(d)in the definition of " quoted "—

(i)in sub-paragraph (a) at the end there shall be added the words

or the Companies Act (Northern Ireland) 1960;

(ii)in sub-paragraphs (b) and (c) for the words " Great Britain " there shall be substituted the words

the United Kingdom.

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