# Insurance Companies Act 1982 (repealed), Section 38: Requirements about investments.

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

(1) The Treasury may require a company—
(a) not to make investments of a specified class or description;
(b) to realise, before the expiration of a specified period (or such longer period as the Treasury may allow), the whole or a specified proportion of investments of a specified class or description held by the company when the requirement is imposed.
(2) A requirement under this section may be framed so as to apply only to investments which are (or, if made, would be) assets representing a fund or funds maintained by the company in respect of its long term business or so as to apply only to other investments.
(3) A requirement under this section shall not apply to the assets of a company so far as their value exceeds—
(a) in the case of a company
(i) whose head office is in an EFTA State, or
(ii) which has in accordance with section 9(2) above made a deposit in an EEA State other than the United Kingdom, or
(iii) which is a Swiss general insurance company,
the amount of the liabilities of the business carried on by the company in the United Kingdom;
(b) in any other case, the amount of the liabilities of the company;
that value and amount being determined in accordance with any applicable valuation regulations.

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Source: https://www.legislation.gov.uk/ukpga/1982/50/section/38 (the official version)
Page: https://openlegislation.uk/insurance-companies-act-1982-repealed/section-38
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.