Insurance Companies Act 1981

PART II Other Amendments

17 In section 20(2) of the [1958 c. 72.] Insurance Companies Act 1958 for the words " the amount required by section 44 of the Insurance Companies Act 1974 " there shall be substituted the words " £50,000 ".

18 In section 111(1) of the [1967 c. 81.] Companies Act 1967, after the words " or the Insurance Companies Act 1974" (in both places) there shall be inserted the words " or the Insurance Companies Act 1981 ".

19 In section 1(3)(b) of the [1969 c. 57.] Employers' Liability (Compulsory Insurance) Act 1969 for the words from " Great Britain " to " 1974 " there shall be substituted the words " the United Kingdom insurance business of a class specified in Schedule 1 or 2 to the Insurance Companies Act 1981 ".

20 In section 24(3) of the [1969 c. 13 (N.I.).] Fire Services Act (Northern Ireland) 1969 for the words from " for " to the end there shall be substituted the words " insurance business within Group 1 in Part II of Schedule 2 to the Insurance Companies Act 1981 ".

21 In Article 5(3)(b) of the [S.I. 1972/963 (N.I. 6).] Employer's Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 for the words from " Northern Ireland " to " 1974 " there shall be substituted the words " the United Kingdom insurance business of a class specified in Schedule 1 or 2 to the Insurance Companies Act 1981 ".

22 In section 145(2) of the [1972 c. 20.] Road Traffic Act 1972 for the words from " motor " to " Britain " there shall be substituted the words " insurance business within Group 2 in Part II of Schedule 2 to the Insurance Companies Act 1981 ".

23 In section 87(1) of the [1974 c. 47.] Solicitors Act 1974—

(a) for the definition of "liability insurance business" there shall be substituted—

• “' liability insurance business ' means insurance business within class 13 in Schedule 2 to the Insurance Companies Act 1981”and

(b) for the definition of "pecuniary loss insurance business" there shall be substituted—

• “' pecuniary loss insurance business ' means insurance business within class 1, 2, 14, 15, 16 or 17 in Schedule 2 to the Insurance Companies Act 1981”.

24 In paragraph l1(l0A) of Schedule 5 to the [1975 c. 7.] Finance Act 1975 for the words from " Part I" to " 1974 " there shall be substituted " section 3 or 4 of the Insurance Companies Act 1981 ".

25 (1) The [1975 c. 75.] Policyholders Protection Act 1975, shall be amended as follows.

(2) In section 3(2) for the words from " permitted " to " 1974 " there shall be substituted the words " authorised under section 3 or 4 of the Insurance Companies Act 1981 ".

(3) In section 8(4), for the words from "not being" to the end there shall be substituted the words " other than class 5, 6, 7, 11 or 12, not being a contract of reinsurance ".

(4) In subsections (1) and (3) of section 28 after the words " Insurance Companies Act 1974 " there shall be inserted the words " or the Insurance Companies Act 1981 ".

(5) In section 29 after the words " Insurance Companies Act 1974 " there shall be inserted the words " or the Insurance Companies Act 1981 " ; and at the end there shall be added the words " or the said Act of 1981 ".

26 In section 29(1) of the [1977 c. 46.] Insurance Brokers (Registration) Act 1977—

(a) in the definition of " authorised insurers " for the words "liability insurance business or pecuniary loss insurance business " there shall be substituted the words " insurance business of class 13 or of classes 1, 2, 14, 15, 16 and 17 in Schedule 2 to the Insurance Companies Act 1981 "; and

(b) in the definition of " insurance business" for the words from " of any" to " assurance business" there shall be substituted the words " other than industrial assurance business (within the meaning of section 1(2) of the Industrial Assurance Act 1923 or Articles 2(2) and 3(1) of the Industrial Assurance (Northern Ireland) Order 1979). "

27 In paragraph 8 of Schedule 1 to the [1979 c. 37.] Banking Act 1979 for the words from " by virtue of " onwards there shall be substituted the words " under section 3 or 4 of the Insurance Companies Act 1981 to carry on insurance business of a class specified in Schedule 1 or 2 to that Act ".

28 In Article 3(4) of the [S.I. 1979/1574 (N.I. 13).] Industrial Assurance (Northern Ireland) Order 1979—

(a) for the words " Act 1974 and in particular to section 2(2) of that Act" there shall be substituted the words " Acts 1974 and 1981 and in particular to sections 2(3) and 3(2) of that Act of 1981 ";

(b) for the words " section 3 of that Act" there shall be substituted the words " section 3 of that Act of 1981 ".

29 In Article 101(1) of the [S.I. 1981/154 (N.I. 1).] Road Traffic (Northern Ireland) Order Site) 1981—

(a) for the words " in Northern Ireland a motor vehicle insurance business" there shall be substituted the words " insurance business within group 2 in Part II of Schedule 2 to the Insurance Companies Act 1981 " and

(b) for " 1974 " there shall be substituted " 1981 ".