Paragraph 5
United Kingdom
An EC company shall not change the requisite details of a branch—
which has been established by it in the United Kingdom; and
through which it carries on reinsurance business,
unless the requirements of this paragraph have been complied with in relation to its making of the change.
Subject to sub-paragraph (3) below, the requirements of this paragraph are that the company has given a notice to the F1Treasury stating the details of the proposed change not less than one month before the change is to take place.
In the case of a change occasioned by circumstances beyond the company’s control, the requirements of this paragraph are that the company shall as soon as practicable (whether before or after the change) give a notice to the Treasury stating the details of the change.
Annotations
Textual amendments
- F1
Word in Sch. 2F para. 5 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Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)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