Regulation 70 Transitional provisions: UK insurers
As made
If—
an insurance company which immediately after the commencement date is a UK company, or
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.
If—
an insurance company which immediately after the commencement date is a UK company, or
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.