{
  "url": "https://openlegislation.uk/insurance-companies-regulations-1994/schedule-4/paragraph-1",
  "json_url": "https://openlegislation.uk/insurance-companies-regulations-1994/schedule-4/paragraph-1.json",
  "legislation": "uksi/1994/1516",
  "legislation_title": "The Insurance Companies Regulations 1994",
  "legislation_url": "https://openlegislation.uk/insurance-companies-regulations-1994",
  "path": "schedule/4/paragraph/1",
  "kind": "paragraph",
  "number": "1",
  "heading": null,
  "text": "In this Schedule “reference period”, in relation to an insurance company, means either—\n(a) the three last preceding financial years, or\n(b) the seven last preceding financial years if more than one-half of the gross premiums receivable (as defined in Schedule 3) in that period were in respect of all or any of the following, namely, storm (as included in general business class 8), hail (as included in general business class 9), frost (as included in general business class 9) and credit (as included in general business class 14).",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [
    {
      "type": "modified by S.I. 1983/224 Sch. 1A (as inserted)",
      "affecting": "uksi/1997/686",
      "affecting_title": "The Insurance (Lloyd's) Regulations 1997"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/1994/1516/schedule/4/paragraph/1",
    "retrieved_at": "2026-10-29T13:31:36.830993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}