Regulation 2 Amendment of Insurance Companies Act 1982

The Insurance Companies Act 1982 shall be amended as follows—

(a)

in each of sections 2(4) (restriction on carrying on insurance business) and 15(5) (insurance companies to which Part II applies), for “or 17” there shall be susbstituted “, 17 or 18”; and

(b)

in Part I of Schedule 2 (classes of general business)—

(i)

at the end of paragraph (b) in the third column of the entry relating to class 16 (miscellaneous financial loss) there shall be added “(other than loss such as is covered by contracts falling within class 18 below)”; and

(ii)

after class 17 there shall be added the further class specified in the Schedule to these Regulations.