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Insurance Companies Amendment Act 1973
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13Restrictions on new business
(1)The Secretary of State may require a company—
(a)not to effect any contracts of insurance or contracts of insurance of a specified description;
(b)not to vary any contracts of insurance of a specified description, being contracts effected in the course of carrying on general business and in force when the requirement is imposed;
(c)not to vary in such a manner as to increase the liabilities of the company any contracts of insurance of a specified description, being contracts effected in the course of carrying on long term business and in force when the requirement is imposed.
(2)A requirement under this section may apply to contracts of insurance whether or not the effecting of them falls within a class of insurance business which the company is for the time being authorised to carry on.
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