{
  "url": "https://openlegislation.uk/insurance-companies-act-1980/schedule-2/paragraph-12",
  "json_url": "https://openlegislation.uk/insurance-companies-act-1980/schedule-2/paragraph-12.json",
  "legislation": "ukpga/1980/25",
  "legislation_title": "Insurance Companies Act 1980",
  "legislation_url": "https://openlegislation.uk/insurance-companies-act-1980",
  "path": "schedule/2/paragraph/12",
  "kind": "paragraph",
  "number": "12",
  "heading": null,
  "text": "In regulation 2 of the Insurance Companies (Valuation of Assets) Regulations 1976 —\n(a) in the definition of “approved financial institution”—\n(i) in sub-paragraph (c) for the words “Trustee Savings Bank Act 1969” there shall be substituted the words “Trustee Savings Banks Act 1976” ;\n(ii) in sub-paragraph (d) at the end there shall be added the words “or paragraph 23 of the Sixth Schedule to the Companies Act (Northern Ireland) 1960” ;\n(b) in the definition of “equity share capital” from the words from “has” to “1948” there shall be substituted the words “, in relation to a company, means its issued share capital excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution” ;\n(c) in the definition of “holding company” at the end there shall be added the words “or section 148 of the Companies Act (Northern Ireland) 1960”;\n(d) in the definition of “quoted”—\n(i) in sub-paragraph (a) at the end there shall be added the words “or the Companies Act (Northern Ireland) 1960”;\n(ii) in sub-paragraphs (b) and (c) for the words “Great Britain” there shall be substituted the words “the United Kingdom”.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "C",
      "label": "C1",
      "text": "The text of s. 4(1), Sch. 2 Pt. II paras. 8–14, 16, and Schs. 5 and 6 is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1980/25/schedule/2/paragraph/12",
    "retrieved_at": "2026-10-29T10:16:05.681534+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}