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Regulation 70 Transitional provisions: UK insurersI1

United Kingdom

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

(1)

If—

(a)

an insurance company which immediately after the commencement date is a UK company, or

(b)

a member of Lloyd's,

was immediately before that date lawfully carrying on insurance business of a class or part of a class in a member State other than the United Kingdom, it shall be treated for the purposes of the 1982 Act as if the requirements of paragraph 1 of Schedule 2G to that Act had been complied with in relation to insurance business of that class or part of a class.

(2)

If—

(a)

an insurance company which immediately after the commencement date is a UK company, or

(b)

a member of Lloyd's,

was immediately before that date lawfully providing insurance of a class or part of a class in a member State other than the United Kingdom, it shall be treated for the purposes of the 1982 Act as if the requirements of paragraph 5 of Schedule 2G to that Act had been complied with in relation to insurance of that class or part of a class.

Annotations

Commencement

I1

Reg. 70 in force at 1.7.1994, see reg. 1(1)