Section 2 Reinsurance arrangements to which this Act applies.

England, Wales and Scotland

(1)

This Act applies to arrangements under which the F1Treasury. . . F2undertake to any extent the liability of reinsuring risks against—

(a)

loss of or damage to property in Great Britain resulting from or consequential upon acts of terrorism; F3...

(b)

any loss which is consequential on loss or damage falling within paragraph (a) above; F4and

(c)

any loss which falls within subsection (1A);

and to the extent that the arrangements relate to events occurring before as well as after an agreement of reinsurance comes into being, the reference in section 1(1) above to the obligations of the Treasury shall be construed accordingly.

F5(1A)

Loss falls within this subsection if—

(a)

it results from interruption to business carried on in Great Britain, and

(b)

the interruption results from or is consequential upon acts of terrorism.

(2)

In this section “acts of terrorism” means acts of persons acting on behalf of, or in connection with, any organisation which carries out activities directed towards the overthrowing or influencing, by force or violence, of Her Majesty’s government in the United Kingdom or any other government de jure or de facto.

(3)

In subsection (2) above “organisation” includes any association or combination of persons.

Annotations

Textual amendments

F1: Words in s. 2(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 121
F2: Word in s. 2(1) substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 123(b) (with saving in art. 7)
F3: Word in s. 2(1)(a) omitted (12.2.2019) by virtue of Counter-Terrorism and Border Security Act 2019 (c. 3), ss. 21(2)(a), 27(1)(a)
F4: S. 2(1)(c) and word inserted (12.2.2019) by Counter-Terrorism and Border Security Act 2019 (c. 3), ss. 21(2)(b), 27(1)(a)
F5: S. 2(1A) inserted (12.2.2019) by Counter-Terrorism and Border Security Act 2019 (c. 3), ss. 21(3), 27(1)(a)

Notes on the whole Act

Textual amendments

F1: Words substituted (5.1.1998) by S.I. 1997/2781, art. 8(1), Sch. Pt. II para. 121 (with saving in art. 7)