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The Insurance (Fees) Regulations 2001

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3.  In these Regulations:

the Act” means the Insurance Companies Act 1982;

“Community deposit company” means an insurance company (other than a pure reinsurer) whose head office is not in a Member State and which has made a deposit in a Member State other than the United Kingdom in accordance with section 9(1)(c) of the Act as it has effect in pursuance of section 9(2)(b) of the Act;

“gross premiums receivable” means the gross amount of premiums receivable required to be included in the documents required to be deposited under section 22(1) of the Act in relation to the financial year to which the documents relate (or, where by reason of an order made under section 68 of the Act such amounts are not required to be included, the amount which would otherwise have been required to be included) being—

(a)

in the case of a company (other than a Community deposit company or a Swiss general insurance company) which carries on either long term business or general business but not both, premiums receivable in respect of its global business;

(b)

in the case of a company (other than a Community deposit company) which carries on both long term business and general business, the sum of premiums receivable in respect of its global long term business and its global general business;

(c)

in the case of a Community deposit company which carries on either long term business or general business but not both through a branch in the United Kingdom, premiums receivable in respect of its United Kingdom branch business;

(d)

in the case of a Community deposit company which carries on both long term business and general business through a branch in the United Kingdom, the sum of premiums receivable in respect of its United Kingdom branch long term business and its United Kingdom branch general business;

(e)

in the case of a Swiss general insurance company which carries on general business through a branch in the United Kingdom, premiums receivable in respect of its United Kingdom branch business;

“group” means a body corporate together with—

(a)

all of its wholly-owned subsidiaries;

(b)

any body corporate of which it is a wholly-owned subsidiary;

(c)

all bodies corporate which are wholly-owned subsidiaries of any such body corporate as is first mentioned in (b);

“pure reinsurer” means an insurance company whose authorisation to carry on business in the United Kingdom is restricted to reinsurance;

“wholly-owned subsidiary” has the meaning given to it by section 736(2) of the Companies Act 1985(1);

“winding up” includes an analogous procedure under any jurisdiction other than that of any part of the United Kingdom.

(1)

1985 c. 6; section 736 was substituted by the Companies Act 1989 (c. 40), section 144(1).

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