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The Insurance Companies (Third Insurance Directives) Regulations 1994

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  1. Introductory Text

  2. PART I GENERAL

    1. 1.Citation, commencement and extent

    2. 2.Interpretation

  3. PART II AMENDMENTS OF 1982 ACT

    1. CHAPTER I RESTRICTION ON CARRYING ON INSURANCE BUSINESS

      1. Preliminary

        1. 3.Classification of long term business

        2. 4.Restriction on carrying on insurance business

      2. Applications for authorisation

        1. 5.Sound and prudent management: criteria which must be fulfilled

        2. 6.Combination of long term and general business

        3. 7.United Kingdom applicants

        4. 8.Applicants from other EEA States etc.

        5. 9.Applicants from non-EEA States etc.

      3. Withdrawal of authorisation

        1. 10.Withdrawal of authorisation in respect of new business

        2. 11.Suspension of authorisation in urgent cases

        3. 12.Final withdrawal of authorisation

    2. CHAPTER II REGULATION OF INSURANCE COMPANIES

      1. Preliminary

        1. 13.Insurance companies to which Part II applies

      2. Financial resources

        1. 14.Margins of solvency

        2. 15.Companies supervised in other EEA States

        3. 16.Form and situation of assets

        4. 17.Adequacy of assets

        5. 18.Adequacy of premiums: long term business

      3. Powers of intervention

        1. 19.Grounds on which powers of intervention are exercisable

        2. 20.Requirements about investments

        3. 21.Maintenance of assets in the United Kingdom

        4. 22.Prohibition on disposal of assets

        5. 23.General investigations

        6. 24.Power to obtain information etc.

        7. 25.Residual power to impose requirements for protection of policy holders

        8. 26.Restriction on disclosure of information

        9. 27.Privilege from disclosure

      4. Transfers of insurance business

        1. 28.Transfers of long term and general business

        2. 29.Issue of certificates by Secretary of State

        3. 30.Effect of transfers authorised in other EEA States

      5. Winding up

        1. 31.Winding up on petition by Secretary of State

      6. Changes of director, controller or manager etc.

        1. 32.Approval of proposed managing director or chief executive

        2. 33.Approval of proposed controller where section 60 does not apply

        3. 34.Approval of acquisition of notifiable holding in UK company

        4. 35.Further provisions with respect to controllers of UK companies

        5. 36.Duty to notify change of director, controller or manager

        6. 37.Change of manager etc. of company from outside United Kingdom

      7. Miscellaneous and supplemental

        1. 38.Documents deposited in Northern Ireland

        2. 39.Offences under Part II

    3. CHAPTER III CONDUCT OF INSURANCE BUSINESS

      1. 40.Information for policy holders of UK insurers and EC companies

      2. 41.Information for policy holders of EFTA companies

      3. 42.Intermediaries in insurance business

      4. 43.Statutory notice by insurer in relation to long term policy

      5. 44.Linked long term policies and capital redemption

    4. CHAPTER IV RECOGNITION IN ACCORDANCE WITH INSURANCE DIRECTIVES

      1. 45.Recognition in the United Kingdom of EC and EFTA companies

      2. 46.Recognition in other EEA States of UK insurers

    5. CHAPTER V SPECIAL CLASSES OF INSURERS

      1. 47.Industrial assurance business

      2. 48.Lloyd’s underwriters

    6. CHAPTER VI SUPPLEMENTARY PROVISIONS

      1. 49.Applicable law

      2. 50.General interpretation

      3. 51.Interpretation of expressions derived from insurance Directives

      4. 52.Meaning of “controller” etc.

      5. 53.Meanings of “manager” and “chief executive”

      6. 54.Meaning of “main agent”

      7. 55.Meaning of “claims representative”

  4. PART III AMENDMENTS OF 1986 ACT

    1. 56.Recognition of self-regulating organisations

    2. 57.Authorised insurers

    3. 58.Conduct of investment business

    4. 59.Powers of intervention

    5. 60.Information and auditors

    6. 61.Qualifications of designated agency

    7. 62.Prevention of restrictive practices

    8. 63.Application of 1986 Act to insurance companies

    9. 64.Insurance contracts effected in contravention of 1982 Act

    10. 65.Industrial assurance

    11. 66.Restrictions on disclosure of information

    12. 67.Functions under this Part

  5. PART IV SUPPLEMENTAL

    1. 68.Minor and consequential amendments and saving

    2. 69.Transitional provisions: EC companies

    3. 70.Transitional provisions: UK insurers

    4. 71.Transitory provision

  6. Signature

    1. SCHEDULE 1

    2. SCHEDULE 2

    3. SCHEDULE 3

    4. SCHEDULE 4

    5. SCHEDULE 5

    6. SCHEDULE 6

    7. SCHEDULE 7

    8. SCHEDULE 8

      MINOR AND CONSEQUENTIAL AMENDMENTS

      1. PART I PRIMARY LEGISLATION

        1. Judicial Pensions Act (Northern Ireland) 1951 (c. 20 (N.I.))

          1. 1.(1) Section 11A(2) of the Judicial Pensions Act (Northern Ireland)...

      2. County Courts Act (Northern Ireland) 1959 (c. 25 (N.I.))

        1. 2.(1) Section 127A(2) of the County Courts Act (Northern Ireland)...

      3. Resident Magistrates' Pensions Act (Northern Ireland) 1960 (c. 2 (N.I.))

        1. 3.(1) Section 9A(2) of the Resident Magistrates' Pensions Act (Northern...

      4. Solicitors Act 1974 (c. 47)

        1. 4.Section 23(2) of the Solicitors Act 1974 (unqualified person not...

      5. Policyholders Protection Act 1975 (c. 75)

        1. 5.(1) Section 3(2) of the Policyholders Protection Act 1975 (authorised...

      6. Housing (Northern Ireland) Order 1981 (S.I. 1981/156 (N.I.3))

        1. 6.In Schedule 10 to the Housing (Northern Ireland) Order 1981...

      7. Judicial Pensions Act 1981 (c. 20)

        1. 7.(1) Section 33A(2) of the Judicial Pensions Act 1981 (voluntary...

      8. Data Protection Act 1984 (c. 35)

        1. 8.Section 30 of the Data Protection Act 1984 (exemption for...

      9. Companies Act 1985 (c. 6)

        1. 9.(1) The following provisions of the Companies Act 1985, namely—...

      10. Housing Act 1985 (c. 68)

        1. 10.Section 622 of the Housing Act 1985 (minor definitions: general)...

      11. Housing Associations Act 1985 (c. 69)

        1. 11.Section 106(1) of the Housing Associations Act 1985 (minor definitions:...

      12. Financial Services Act 1986 (c. 60)

        1. 12.Section 134 of the Financial Services Act 1986 (which is...

      13. Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I.6))

        1. 13.(1) The following provisions of the Companies (Northern Ireland) Order...

      14. Banking Act 1987 (c. 22)

        1. 14.(1) In subsection (1) of section 84 of the Banking...

      15. Housing (Scotland) Act 1987 (c. 26)

        1. 15.Section 338 of the Housing (Scotland) Act 1987 (interpretation) shall...

      16. Criminal Justice Act 1987 (c. 38)

        1. 16.In subsection (6) of section 3 of the Criminal Justice...

      17. Criminal Justice (Scotland) Act 1987 (c. 41)

        1. 17.In subsection (5) of section 54 of the Criminal Justice...

      18. Companies Act 1989 (c. 40)

        1. 18.In subsection (4) of section 87 of the Companies Act...

      19. Law Reform (Miscellaneous Provisions) (Scotland) Act 1990 (c. 40)

        1. 19.Subsection (2) of section 19 of the Law Reform (Miscellaneous...

      20. Courts and Legal Services Act 1990 (c. 41)

        1. 20.The following provisions of the Courts and Legal Services Act...

      21. Northern Ireland (Emergency Provisions) Act 1991 (c. 24)

        1. 21.In paragraph 6(2)(k) of Schedule 5 to the Northern Ireland...

      22. Judicial Pensions and Retirement Act 1993 (c. 8)

        1. 22.(1) Section 10(4) of the Judicial Pensions and Retirement Act...

      23. PART II SUBORDINATE LEGISLATION

        1. Rehabilitation of Offenders Act 1974 (Exceptions) Order 1975 (S.I. 1975/1023)

          1. 23.(1) In Part III of Schedule 1 to the Rehabilitation...

      24. British Railways Board (Winding up of Closed Pension Funds) Order 1978 (S.I. 1978/1358)

        1. 24.Article 1 of the British Railways Board (Winding up of...

      25. Rehabilitation of Offenders Act 1974 (Exceptions) Order (Northern Ireland) 1979 (S.R. 1979/195)

        1. 25.In Part III of Schedule 1 to the Rehabilitation of...

      26. Mortgage Indemnities (Recognised Bodies) Order 1984 (S.I. 1984/1555)

        1. 26.Schedule 2 to the Mortgage Indemnities (Recognised Bodies) Order 1984...

      27. Building Societies (Mobile Home Loans) Order 1986 (S.I. 1986/1877)

        1. 27.Article 2 of the Building Societies (Mobile Home Loans) Order...

      28. Local Authorities (Recognised Bodies for Heritable Securities Indemnities)M (Scotland) Order 1987 (S.I. 1987/1388 (S.104))

        1. 28.In Schedule 2 to the Local Authorities (Recognised Bodies for...

      29. Housing Corporation (Recognised Bodies for Heritable Securities Indemnities) (Scotland) Order 1987 (S.I. 1987/1389 (S.105))

        1. 29.In Schedule 2 to the Housing Corporation (Recognised Bodies for...

      30. Local Government Superannuation (Scotland) Regulations 1987 (S.I.1987/1850 (S.128))

        1. 30.In Schedule 7A to the Local Government Superannuation (Scotland) Regulations...

      31. Banking Act 1987 (Advertisements) Regulations 1988 (S.I. 1988/645)

        1. 31.Regulation 2(3) of the Banking Act 1987 (Advertisements) Regulations 1988...

      32. Insurance Companies (Transfer of Long Term Business) Regulations 1990 (S.I. 1990/1207)

        1. 32.The Insurance Companies (Transfer of Long Term Business) Regulations 1990...

      33. Teachers' Superannuation (Additional Voluntary Contributions) (Scotland) Regulations 1992 (S.I.1992/2649)

        1. 33.Regulation 9 of the Teachers' Superannuation (Additional Voluntary Contributions) (Scotland)...

      34. Insurance Companies (Amendment) Regulations 1992 (S.I. 1992/2890)

        1. 34.In the Insurance Companies (Amendment) Regulations 1992, regulation 10 (which...

      35. Local Government (Superannuation) Regulations (Northern Ireland) 1992 (S.R. 1992/547)

        1. 35.In Schedule 6 to the Local Government (Superannuation) Regulations (Northern...

      36. Money Laundering Regulations 1993 (S.I. 1993/1933)

        1. 36.In regulation 16(6) of the Money Laundering Regulations 1993 (persons...

      37. Parliamentary Pensions (Additional Voluntary Contributions Scheme) Regulations 1993 (S.I.1993/3252)

        1. 37.The following provisions of the Parliamentary Pensions (Additional Voluntary Contributions...

  7. Explanatory Note

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