# The Insurance Companies (Amendment) Regulations 1990, Paragraph 8: Grounds for exercise of supervisory powers


(1) In section 11(2) of the Insurance Companies Act 1982 (withdrawal of authorisation in respect of new business: grounds), after paragraph (a) insert–
“(aa) that it appears to the Secretary of State that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State giving effect to the general insurance Directives;”.
(2) In section 37(2) of the Insurance Companies Act 1982 (powers of intervention: grounds for exercise), in paragraph (b) (failure to satisfy obligations) after sub-paragraph (i) insert–
“(ia) that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State giving effect to the general insurance Directives;”.
(3) In section 54(1) and (2) of the Insurance Companies Act 1982 (winding up on petition of Secretary of State under the Insolvency Act 1986 or corresponding Northern Ireland provisions), after paragraph (b) insert–
“(bb) that the company has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another member State giving effect to the general insurance Directives;”.

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Source: https://www.legislation.gov.uk/uksi/1990/1333/schedule/./paragraph/8 (the official version)
Page: https://openlegislation.uk/insurance-companies-amendment-regulations-1990/schedule-./paragraph-8
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.