Statutory Instruments
INSURANCE
Made
1st November 2004
Laid before Parliament
9th November 2004
Coming into force
28th February 2005
The Secretary of State for Work and Pensions, in exercise of the powers conferred on him by sections 3(1)(c) and 6 of the Employers' Liability (Compulsory Insurance) Act 1969(1), and of all other powers enabling him in that behalf, hereby makes the following Regulations:—
1. These Regulations may be cited as the Employers' Liability (Compulsory Insurance) (Amendment) Regulations 2004 and shall come into force on 28th February 2005.
2. In the Employers' Liability (Compulsory Insurance) Regulations 1998(2), Schedule 2 (employers exempted from insurance), after paragraph 14, there is inserted:—
“(15) Any employer which is a company that has only one employee and that employee also owns fifty per cent or more of the issued share capital in that company.”.
Signed by authority of the Secretary of State for Work and Pensions.
Jane Kennedy
Minister of State,
Department for Work and Pensions
1st November 2004
(This note is not part of the Regulations)
These regulations are made under the Employers' Liability (Compulsory Insurance) Act 1969. They amend the Employers' Liability (Compulsory Insurance) Regulations 1998 by inserting a new paragraph into Schedule 2 of those regulations. The effect of the change is to exempt an incorporated company run by its owner, who is also the sole employee of the company, from the requirement to take out employers' liability insurance.
These regulations reduce costs on businesses; an assessment of this impact has been made. Copies of the Regulatory Impact Assessment have been placed in the libraries of both Houses of Parliament. Additional copies may be obtained from the DWP Regulatory Impact Unit, 1-11 John Adam Street, London, WC2N 6HT.
S.I. 1998 No 2573, as amended by S.I. 1999/1820, S.I. 2000/253 and S.I. 2003/1615.