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Paragraph 5

Original text. Later amendments are not shown.

(1)

In subsection (1) of section 12 of that Act (rules by societies), after the words “of this Act” in both places where they occur, there shall be inserted “or of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993”.

(2)

After subsection (2) of that section there shall be inserted the following subsection—

“(2A)

For the purposes of subsection (1) the appropriate period after the commencement of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993 shall be the period of one year beginning with the date of coming into force of those Regulations.”.