OpenLegislation

Part I descriptions of bodies corporate designated

Original text. Later amendments are not shown.

12345
Specified descriptionSpecified definitionSpecified relevant powerSpecified purposesSpecified limits and conditions
1. Appropriate European life insurance vehicleA specified type of body corporate (not being one excluded by the particular restrictions for European life insurance vehicles) formed for the purposes of, or the objects of which include, the carrying on, in any member State and/or in any country or territory listed in paragraph 2 of Part II of the Schedule hereto, insurance business of a class specified in Schedule 1 (long term business) to the Insurance Companies Act 1982f1.
  1. (1)

    Where the appropriate European life insurance vehicle is a one tier organisation, investment and support or support.

  2. (2)

    Otherwise, investment and support.

  1. (1)

    Enabling the appropriate European life insurance vehicle to carry on the business referred to in column 2 of this item (notwithstanding that the lending of money to members of the public on the security of land by loans corresponding to advances secured on land may be carried on in connection with that business).

  2. (2)

    Facilitating the provision of insurance services by the society or any associated body of the society.

  1. (1)

    The standard asset provision.

  2. (2)

    The group interest provision.

2. Appropriate general insurance vehicle.A specified type of body corporate (not being one excluded by the particular restrictions for general insurance vehicles) formed for the purposes of, or the objects of which may include the carrying on, in any member State, and/or in any country or territory listed in paragraph 2 of Part II of the Schedule hereto, insurance business of a class or classes specified in Part 1 of Schedule 2 (general business) to the Insurance Companies Act 1982f2. Investment and support.
  1. (1)

    Enabling the appropriate general insurance vehicle to carry on the business referred to in column 2 of this item (notwithstanding that the lending of money to members of the public on the security land by loans corresponding to advances secured on land may be carried on in connection with that business).

  2. (2)

    Facilitating the provision of insurance services by the society or any associated body of the society.

  1. (1)

    The standard asset provision.

  2. (2)

    The investment and support limit for appropriate general insurance vehicles.

Annotations

Footnotes

f1

1987 c. 22.

f2

1982 c. 50.