# Insurance Companies Act 1982 (repealed), Paragraph 15

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

The Treasury may exercise their powers under section 45 above in relation to an EC company if the supervisory authority in the company’s home State—
(a) has informed the Treasury that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term Directive; and
(b) in accordance with that Article, has requested the Treasury to take measures in the United Kingdom to safeguard the interests of policy holders of the company.

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Source: https://www.legislation.gov.uk/ukpga/1982/50/schedule/2F/paragraph/15 (the official version)
Page: https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-2F/paragraph-15
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.