# Insurance Companies Act 1982 (repealed), Paragraph 17

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

(1) This paragraph applies where—
(a) an EC company is carrying on insurance business or providing insurance in the United Kingdom; and
(b) the Treasuryare notified by the supervisory authority in the home State that the company’s authorisation has been withdrawn, or has lapsed, in accordance with Article 22 of the first general insurance Directive or Article 26 of the first long term insurance Directive.
(2) The Treasury may direct the company to cease to carry on insurance business or provide insurance, or to cease to carry on insurance business or provide insurance of a specified description, in the United Kingdom through all, or any specified, establishments.
(3) Where the Treasuryreceivenotification under sub-paragraph (1) above they shall forthwith inform the connected UK authorities of its receipt.
(4) After giving such a direction, the Treasury shall by notice in writing inform the company of their reasons for doing so.
(5) A direction under this paragraph does not prevent the company from effecting or carrying outa contract of insurance in pursuance of a term of a subsisting contract of insurance.

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Source: https://www.legislation.gov.uk/ukpga/1982/50/schedule/2F/paragraph/17 (the official version)
Page: https://openlegislation.uk/insurance-companies-act-1982-repealed/schedule-2F/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.