Paragraph 8
United Kingdom
The insurance company shall not be regarded as conducting its business in a sound and prudent manner if—
it fails to satisfy an obligation to which it is subject by virtue of this Act; or
in the case of a UK company, it fails to satisfy an obligation to which it is subject by virtue of any provision of the law of another EEA State which applies to its insurance business in that State.
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)
Notes on Schedule 2A
Textual amendments
- F1
Sch. 2A inserted (1.7.1994) by S.I. 1994/1696, reg. 5(3), Sch. 1
Modifications
- C1
Sch. 2A: Power to contract out functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 56