Paragraph 14

United Kingdom

(1)

The powers conferred by section 44 above on the F1Treasury shall be exercisable in respect of an EC company by a person authorised by the supervisory authority in the company’s home State if—

(a)

the information to be requested by that person is necessary to enable the authority to perform its obligations in respect of the company under Article 19 of the first general insurance Directive or Article 23 of the first long term insurance Directive; and

(b)

the authority has notified the Treasury in writing of that person’s intention to exercise those powers.

(2)

An officer or agent of the Treasury may accompany a person so authorised while he is acting in the exercise of those powers.

Annotations

Textual amendments

F1: Word in Sch. 2F para. 14 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)

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F1: Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)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 2F]

Textual amendments

F1: Sch. 2F inserted (1.7.1994) by S.I. 1994/1696, reg. 45(2), Sch. 6

Modifications

C1: Sch. 2F: Power to contract out certain functions conferred (18.11.1998) by S.I. 1998/2842, arts. 2, 3, Sch. Pt. I para. 60