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Insurance Companies Act 1980

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This is the original version (as it was originally enacted).

3In regulation 18(1) of the said Regulations of 1968—

(a)after the definition of " accounts " there shall be inserted the following definition— ' the Act' means the Insurance Companies Act 1958 as amended by the Companies Act 1967 ;

(b)at the end of the definitions of "authorised unit trust scheme " and " unit trust scheme " there shall be added the words

or the Prevention of Fraud (Investments) Act (Northern Ireland) 1940;

(c)in the definition of " capital redemption contracts " for the words " section 59(6)(c) of the Companies Act 1967 " there shall be substituted the words

section 83(2Xc) of the Insurance Companies Act 1974;

(d)in the definition of " company" for the words from " the Act" onwards there shall be substituted the words

these Regulations apply;

(e)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;

(f)in the definition of " long-term personal accident contracts " for the words " section 59(6)(b) of the Companies Act 1967 " there shall be substituted the words

section 83(2)(b) of the Insurance Companies Act 1974;

(g)in the definition of " quoted investment" for the words from "has" to " 1948" there shall be substituted the words

means an investment as respects which there has been granted a quotation or permission to deal on a recognised stock exchange, or on any stock exchange of repute outside the United Kingdom;

(h)at the end of the definition of " subsidiary " there shall be added the words

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

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