The Insurance (Fees) Regulations 1998

Statutory Instruments

1998 No. 612

INSURANCE

The Insurance (Fees) Regulations 1998

Made

9th March 1998

Laid before Parliament

10th March 1998

Coming into force

1st April 1998

Whereas the Treasury have had regard to the object of securing (so far as practicable) that the amount of the fees payable under section 94A of the Insurance Companies Act 1982(1) in the year beginning on 1st April 1998 by insurance companies and the Council of Lloyd’s is equal to the cost likely to be incurred in that period by the Treasury in exercising the functions specified in regulation 10 of these Regulations:

Now, therefore, the Treasury, in exercise of the powers conferred by sections 94A, 96(1) and 97 of that Act and now vested in them(2), and of all other powers enabling them in that behalf, hereby make the following Regulations:

(1)

1982 c. 50; section 94A was inserted by the Insurance (Fees) Act 1985 (c. 46).

(2)

References to the “Treasury” were substituted for references to the “Secretary of State”in sections 94A and 97 of the Insurance Companies Act 1982 by article 8 of, and paragraph 51 of the Schedule to, the Transfer of Functions (Insurance) Order (S.I. 1997/2781).