Paragraph 11

United Kingdom

(1)

Where a UK insurer intends to provide insurance in the United Kingdom, it shall before doing so notify the F1Treasury in writing of its intention.

(2)

The notification shall indicate—

(a)

the EEA State in which is situated the branch through which the company intends to provide insurance in the United Kingdom; and

(b)

the nature of the risks or commitments which the insurer proposes to cover in the United Kingdom.

(3)

Where the EEA State in which is situated the branch through which the company intends to provide insurance in the United Kingdom is an EFTA State, the notification shall be accompanied by a certificate, issued by the supervisory authority in that State, which—

(a)

indicates the classes of insurance business which the company has been authorised to undertake through that branch;

(b)

states that the authority does not object to the company providing insurance in the United Kingdom; and

(c)

where the company intends to provide long term insurance in the United Kingdom, confirms that all the commitments which the company intends to cover fall within the classes of insurance business which the company has been authorised to undertake through that branch.

(4)

The insurer shall notify the Treasury in writing if—

(a)

it changes either of the details notified to the Treasury under sub-paragraph (2) above; or

(b)

it ceases to provide insurance in the United Kingdom.

(5)

Any insurance which is provided by the insurer participating in a Community co-insurance operation otherwise than as the leading insurer shall be disregarded for the purposes of this paragraph.