Paragraph 25

United Kingdom

(1)

An EC company commits an offence if—

(a)

it carries on insurance business in the United Kingdom in contravention of paragraph 1 or 4 above;

(b)

in contravention of paragraph 2 or 5 above, it changes the requisite details of a branch established by it in the United Kingdom;

(c)

it provides insurance in the United Kingdom in contravention of paragraph 8 or 11 above;

(d)

in contravention of paragraph 9 above, it changes the requisite details relating to the provision of insurance in the United Kingdom; or

(e)

it makes default in complying with, or with a requirement imposed under, any other provision of Part I of this Schedule.

(2)

An EFTA company commits an offence if—

(a)

it provides insurance in the United Kingdom in contravention of paragraph 18 or 19 above; or

(b)

it makes default in complying with, or with a requirement imposed under, any other provision of Part II or III of this Schedule.

(3)

A person commits an offence if—

(a)

in purported compliance with a requirement under paragraph 13, 14 or 21 above, he furnishes information which he knows to be false in a material particular or recklessly furnishes information which is false in a material particular; or

(b)

he causes or permits to be included in a document required by paragraph 1, 2, 4, 8, 9 or 18 above to be sent to the F1Treasury a statement which he knows to be false in a material particular or recklessly causes or permits to be so included a statement which is false in a material particular.

(4)

A person committing an offence under this paragraph is liable on summary conviction to a fine not exceeding level 5 on the standard scale.

Annotations

Textual amendments

F1: Word in Sch. 2F para. 25(3)(b) 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F1: Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)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