Section 81F Withdrawal of authorisation.F1F2
United Kingdom
Where an insurance company is providing insurance in the United Kingdom and the Secretary of State is notified by the competent authorities of the member State of establishment, or of the company’s head office, that the authorisation of the company has been withdrawn in accordance with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, he 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 Secretary of State shall by notice in writing inform the company of his reasons for doing so.
A direction under this section does not prevent the company from effecting a contract of insurance in pursuance of a term of a subsisting contract of insurance.
Annotations
Textual amendments
- F1
Pt. IIIA (ss. 81A–81J) inserted by S.I. 1990/1333, reg. 10
- F2
S. 81B substituted for ss.81B-81J (1.7.1994) by S.I. 1994/1696, reg. 46(1)
- F3
S. 81F(1)(a)(b) substituted for words (20.5.1993) by S.I. 1993/174, reg. 4(9)
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Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(b)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 Part IIIA
Textual amendments
- F1
Part III: S. 81A and Part heading substituted for s. 81A (1.7.1994) by S.I. 1994/1696, reg. 45(1)
Notes on Provision of insurance in the United Kingdom
Textual amendments
- F1
Pt. IIIA (ss. 81A–81J) inserted by S.I. 1990/1333, reg. 10