The Contracting Out (Functions in Relation to Insurance) Order 1998

PART II OTHER ENACTMENTS(1)

Lloyd’s Act 1871 (34 Vict. c. xxi)

62.  Functions conferred by or under any of the following provisions of the Lloyd’s Act 1871(2):

(a) section 35 (salvage operations as to wreck of Lutine); and

(b) section 39 (agreements for incorporation of other Societies etc).

Policyholders Protection Act 1975 (c. 75)

63.  Functions conferred by or under any of the following provisions of the Policyholders Protection Act 1975(3):

(a) section 21(2A) (levies on authorised insurance companies);

(b) section 26 (overseas companies);

(c) section 29 (disclosure of documents and information to insurance advisers appointed by the Treasury);

(d) Schedule 1 (additional provisions with respect to the Policyholders Protection Board) other than the functions under paragraphs 5 and 6 of that Schedule; and

(e) Schedule 3 (additional provisions with respect to levies on authorised insurance companies).

Financial Services Act 1986 (c. 60)

64.  Functions mentioned in any of the following provisions of the Transfer of Functions (Financial Services) Order 1992(4):

(a) paragraph 6, 7, 8(a) and 10 of Schedule 1 (certain functions under the Financial Services Act 1986 retained by the Secretary of State); and

(b) paragraph 1(a), 2 and 6 of Schedule 2 (functions under the Financial Services Act 1986 exercisable by the Secretary of State jointly with the Treasury).

Friendly Societies Act 1992 (c. 40)

65.  Functions conferred by or under paragraph 13(2) of Schedule 15 to the Friendly Societies Act 1992(5) (power to certify that a person possesses the margin of solvency required by Part II of the Insurance Companies Act 1982).

Policyholders Protection Act 1997 (c. 18)

66.  Functions conferred under or by virtue of section 6(1) of the Policyholders Protection Act 1997(6) (schemes of arrangement etc; power of Treasury to intervene).

(1)

For relevant amendments see the note on amendments following this instrument.

(2)

The functions exercisable by the Board of Trade and the Secretary of State concurrently under these provisions were transferred to the Treasury by S.I. 1997/2781, article 2(4)(a).

(3)

The functions of the Secretary of State under these provisions were transferred to the Treasury by S.I. 1997/2781, article 2(1)(a).

(4)

S.I. 1992/1315. The functions of the Secretary of State under these provisions were transferred to the Treasury by S.I. 1997/2781, article 2(2) and (3).

(5)

The functions of the Secretary of State under this provision were transferred to the Treasury by S.I. 1997/2781, article 2(1)(e).

(6)

The Policyholders Protection Act 1997 amends the Policyholders Protection Act 1975 with effect from a future date or dates to be appointed. Section 6(1) of the 1997 Act inserts a new section 17A into the 1975 Act. The functions of the Secretary of State under, or by virtue of, the 1997 Act were transferred to the Treasury by S.I. 1997/2781, article 2(1)(f).