Paragraph 4

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

Sch.10, paras.1,2 substituted by Insurance Companies 1996 reg.13(2)(3)
Sch.10, para.15(1)(b) amended by Insurance Companies 1996 reg.13(4)
Sch.10, para.15A added by Insurance Companies 1996 reg.13(5)
Sch.10, para.16(a)(b) amended by Insurance Companies 1996 reg.13(6)(7)
Sch.10, para 5(b) substituted by Insurance Companies 1994 reg.15(2)
Sch.10, para 5(c) revoked by Insurance Companies 1994 reg.15(2)
Sch.10, para 14(a)(v) added by Insurance Companies 1994 reg.15(3)
Sch.10, para 14(b) substituted by Insurance Companies 1994 reg.15(4)
Sch.10, para 16(c)(d) added by Insurance Companies 1994 reg.15(6)
Sch.10 substituted by Insurance Companies 1995 reg.19, Sch.1
Sch. 10 para. 14(b) words substituted by Banking Consolidation Directive 2000 reg. 12(4)(e)
Sch. 10 para. 15 extended by Insurance Companies (Accounts and Statements) 1996 reg. 23(2)

Loans—

(a)

which are fully secured by mortgage or charge on land (or any interest in land) which—

(i)

is situated in any of the countries specified in paragraph 3 above, and

(ii)

in the case of a loan made to a person other than a body corporate, is not used wholly or mainly for domestic purposes, and

(b)

of which the rate of interest and the due dates for the payment of interest and the repayment of principal can be fully ascertained from the terms of any agreement relating to the loan.