# The Insurance Companies (Third Insurance Directives) Regulations 1994, Regulation 31: Winding up on petition by Secretary of State

Extent: E+W+S+N.I.

(1) In subsection (1) of section 54 of the 1982 Act (winding up on petition by Secretary of State), for paragraph (bb) substitute—
“(bb) that the company is a UK company and has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another EEA State which—
(i) gives effect to the general or long term insurance Directives; or
(ii) is otherwise applicable to the insurance activities of the company in that State;”.
(2) In subsection (2) of that section, for paragraph (bb) substitute—
“(bb) that the company is a UK company and has failed to satisfy an obligation to which it is subject by virtue of any provision of the law of another EEA State which—
(i) gives effect to the general or long term insurance Directives; or
(ii) is otherwise applicable to the insurance activities of the company in that State;”.

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Source: https://www.legislation.gov.uk/uksi/1994/1696/regulation/31 (the official version)
Page: https://openlegislation.uk/insurance-companies-third-insurance-directives-regulations-1994/regulation-31
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.