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Regulation 32 Exclusions from regulations 27 to 31

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Nothing in regulations 27 to 31 above shall apply to—

(a)

insurance business carried on by a UK company outside the European Community; or

(b)

insurance business carried on by any other company to which Part II of the Act applies outside the United Kingdom; or

(c)

reinsurance business (unless it is facultative reinsurance written by an insurance company who also carries on insurance business that is not reinsurance).

(2)

Nothing in regulation 31 above shall apply to insurance business of groups 3 and 4 (within the meaning of Part II of Schedule 2 to the Act).