Paragraph 22
United Kingdom
Where an EFTA company is providing insurance in the United Kingdom and the F1TreasuryF2arenotified by the supervisory authority in the EEA State in which the establishment through which the insurance is provided, or the company’s head office, is situated that the authorisation of the company has been withdrawn in accordance with—
Article 22 of the first general insurance Directive, or
Article 26 of the first long term insurance Directive,
F3they may direct the company to cease to provide insurance, or insurance of any specified description, in the United Kingdom through all, or any specified, establishments.
After giving such a direction, the Treasury shall by notice in writing inform thecompany of F4their reasons for doing so.
A direction under this paragraph does not prevent the company from effecting a contract ofinsurance in pursuance of a term of a subsisting contract of insurance.
Annotations
Textual amendments
- F1
Word in Sch. 2F para. 22 substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 72 (with art. 7)
- F2
Word in Sch. 2F para. 22(1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 85(a)(i) (with art. 7)
- F3
Word in Sch. 2F para. 22(1) substituted (5.1.1998) by S.I. 1997/2781, arts. 2(1)(c), 8, Sch. Pt. I para. 85(a)(ii) (with art. 7)
- F4
Words in Sch. 2F para. 22(2) substituted (5.1.1998) by S.I. 1997/2781, art. 8, Sch. Pt. I para. 85(b) (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Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)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