The Insurance Companies (Amendment) Regulations 1994

Insurance companies to which Part II of Act applies

4.  For subsections (1) and (1A)(1) of section 15 of the 1982 Act (insurance companies to which Part II applies) substitute—

“(1) Subject to the provisions of this section, this Part of this Act applies to—

(a) all insurance companies, whether established within or outside the United Kingdom, which carry on insurance business within the United Kingdom; and

(b) all UK companies which carry on business in a member State other than the United Kingdom.

(1A) Except as otherwise provided by Part I of Schedule 2F to this Act, this Part of this Act except—

(a) sections 47A, 47B, 52A, 52B, 54 to 59 and Schedule 2B; and

(b) section 49 and Schedule 2C so far as relating to the transfer of policies which evidence contracts of reinsurance,

does not apply to an EC company in so far as it is carrying on insurance business through a branch in respect of which such of the requirements of Part I of Schedule 2F to this Act as are applicable have been complied with.”

(1)

Subsection (1A) was inserted by S.I.1994/1696, reg.13.