Powers of intervention
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.