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The Insurance Companies (Amendment) Regulations 1992

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Interpretation

9.  (1)  Part V of the 1982 Act (supplementary provisions) shall be amended as follows.

(2) Renumber the section 94A inserted by the Insurance Companies (Amendment) Regulations 1990(1) (law applicable to certain contracts of insurance) as section 94B and transpose that section and the section 94A inserted by the Insurance (Fees) Act 1985(2).

(3) In subsection (1) of section 96 (general interpretation)—

(a)after the definition of “chief executive” insert—

“claims representative” means a person appointed by an insurance company in accordance with section 81CC above;; and

(b)after the definition of “ordinary long-term business” insert—

“parent undertaking” shall be construed in accordance with section 258 of the Companies Act 1985(3) and Article 266 of the Companies (Northern Ireland) Order 1986(4);.

(4) After subsection (1) of section 96A(5) (interpretation of expressions derived from general insurance Directives) insert—

(1A) The Directives amending the general insurance Directives referred to in subsection (1) above include Council Directive 90/618/EEC amending, particularly as regards motor vehicle liability insurance, Directive 73/239/EEC and Directive 88/357/EEC.

(1B) In this Act “the first long term insurance Directive” means Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of direct life assurance..

(5) In subsection (1)(c) of section 96B(6) (meaning of “large risks”), for the words “classes 8, 9, 13 and 16” substitute “classes 3, 8, 9, 10, 13 and 16”.

(1)

S.I. 1990/1333, reg. 6(1).

(3)

1985 c. 6; section 258 was inserted by section 21 of the Companies Act 1989 (c. 40).

(4)

S.I. 1986/1032 (N.I.6); Article 266 was inserted by Article 23 of the Companies (Northern Ireland) Order 1990 (S.I.1990/593 (N.I.5)).

(5)

Section 96A was inserted by S.I. 1990/1333, reg. 2(1).

(6)

Section 96B was inserted by S.I. 1990/1333, reg. 4.

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