# Insurance Companies Act 1980, Paragraph 12

Extent: E+W+S+N.I.

In regulation 2 of the Insurance Companies (Valuation of Assets) Regulations 1976 —
(a) in the definition of “approved financial institution”—
(i) in sub-paragraph (c) for the words “Trustee Savings Bank Act 1969” there shall be substituted the words “Trustee Savings Banks Act 1976” ;
(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” ;
(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” ;
(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”;
(d) in the definition of “quoted”—
(i) in sub-paragraph (a) at the end there shall be added the words “or the Companies Act (Northern Ireland) 1960”;
(ii) in sub-paragraphs (b) and (c) for the words “Great Britain” there shall be substituted the words “the United Kingdom”.

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Source: https://www.legislation.gov.uk/ukpga/1980/25/schedule/2/paragraph/12 (the official version)
Page: https://openlegislation.uk/insurance-companies-act-1980/schedule-2/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.