SCHEDULES

SCHEDULE 12 Transfer schemes: certificates

C1Part I Insurance Business Transfer Schemes

Annotations:
Modifications etc. (not altering text)
C1

Sch. 12 Pt. I (paras. 1-6) applied (1.12.2001) by S.I. 2001/3626, arts. 1, 3(c)

Interpretation of Part I

I16

1

State of the commitment”, in relation to a commitment entered into at any date, means—

a

if the policyholder is an individual, the State in which he had his habitual residence at that date;

b

if the policyholder is not an individual, the State in which the establishment of the policyholder to which the commitment relates was situated at that date.

2

Commitment” means a commitment represented by contracts of insurance of a prescribed class.

3

References to the EEA State in which a risk is situated are—

a

if the insurance relates to a building or to a building and its contents (so far as the contents are covered by the same policy), to the EEA State in which the building is situated;

b

if the insurance relates to a vehicle of any type, to the EEA State of registration;

c

in the case of policies of a duration of four months or less covering travel or holiday risks (whatever the class concerned), to the EEA State in which the policyholder took out the policy;

d

in a case not covered by paragraphs (a) to (c)—

i

if the policyholder is an individual, to the EEA State in which he has his habitual residence at the date when the contract is entered into; and

ii

otherwise, to the EEA State in which the establishment of the policyholder to which the policy relates is situated at that date.

F14

If the insurance relates to a vehicle dispatched from one EEA State to another, in respect of the period of 30 days beginning with the day on which the purchaser accepts delivery a reference to the EEA State in which a risk is situated is a reference to the State of destination (and not, as provided by sub-paragraph (3)(b), to the State of registration).