The Policyholders Protection Act 1997 (Commencement No. 2) Order 2000

Statutory Instruments

2000 No. 3111 (C. 98)

INSURANCE

The Policyholders Protection Act 1997 (Commencement No. 2) Order 2000

Made

22nd November 2000

The Treasury, in exercise of the powers conferred by section 23(3) of the Policyholders Protection Act 1997(1) and now vested in them(2), hereby make the following Order—

1.  This Order may be cited as the Policyholders Protection Act 1997 (Commencement No. 2) Order 2000.

2.  The following sections of the Policyholders Protection Act 1997 shall come into force on 23rd November 2000:—

(a) section 4 (deferment of payment); and

(b) section 5 (operation of the “cost test”).

Greg Pope

Jim Dowd

Two of the Lords Commissioners of Her Majesty’s Treasury

22nd November 2000

Explanatory Note

(This note is not part of the Order)

This Order brings into force on 23rd November 2000 sections 4 and 5 of the Policyholders Protection Act 1997 which amend section 16 of the Policyholders Protection Act 1975 by inserting references to deferring payments of liabilities, and by inserting provisions relating to the operation of the cost test to be performed by the Policyholders Protection Board.

Note as to Earlier Commencement Orders

(This is not part of the Order)

The following provisions of the Act have been brought into force by commencement order made before the date of this Order:

Provision	Date of Commencement	S.I. No.
ss.3 & 16 (Partially) & 21	5.4.2000	2000/971

(1)

1997 c. 18.

(2)

A reference to the “Treasury” was substituted for the reference to the “Secretary of State” in section 23(3) of the Policyholders Protection Act 1997 by article 8 of, and paragraphs 126 and 127 of the Schedule to, the Transfer of Functions (Insurance) Order 1997 (S.I. 1997/2781).