SCHEDULES

C1F2SCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIES

Annotations:
Amendments (Textual)
F2

Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6

Modifications etc. (not altering text)
C1

Sch. 2F: Power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 60

PART IEC COMPANIES CARRYING ON BUSINESS ETC. IN THE UNITED KINGDOM

Powers to obtain information

13

1

Subject to sub-paragraph (2) below, the powers conferred by section 44 above on the F3Treasury or persons authorised by F4them shall be exercisable in respect of an EC company if either—

a

the following requirements are fulfilled, namely—

i

the supervisory authority in the company’s home State has made a written request to the F3Treasury to obtain information from the company; and

ii

the F3TreasuryF5themthat the information to be acquired is necessary to enable that supervisory authority to perform its obligations under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; or

b

the F3TreasuryF6consider the exercise of those powers in respect of that company to be necessary to enable F6them to perform their functions under this Act.

2

The F3Treasury shall not exercise the powers conferred by subsection (2A), (2B) or(4A) of section 44 above in respect of an EC company unless the requirements of sub-paragraph (1)(a) above are fulfilled.

14

1

The powers conferred by section 44 above on the F7Treasury shall be exercisable in respect of an EC company by a person authorised by the supervisory authority in the company’s home State if—

a

the information to be requested by that person is necessary to enable the authority to perform its obligations in respect of the company under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; and

b

the authority has notified the F7Treasury in writing of that person’s intention to exercise those powers.

2

An officer or agent of the F7Treasury may accompany a person so authorised while he is acting in the exercise of those powers.

F814A

Paragraphs 13 and 14 above shall apply in relation to the powers conferred by section 44 above on the Secretary of State or persons authorised by him as they apply in relation to the powers conferred by that section on the Treasury or persons authorised by them; and for those purposes the references in those paragraphs to the Treasury shall be construed as references to the Secretary of State.