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Insurance Companies Act 1981

Status:

This is the original version (as it was originally enacted).

  1. Introductory Text

  2. PART I Restriction on Carrying on Insurance Business

    1. Preliminary

      1. 1.Classification

      2. 2.Restriction on carrying on insurance business

    2. Authorised insurance companies

      1. 3.Authorisation by Secretary of State

      2. 4.Existing insurance companies

    3. Applications for authorisation

      1. 5.Submission of proposals etc.

      2. 6.Combination of long term and general business

      3. 7.United Kingdom applicants

      4. 8.Applicants from other member States

      5. 9.Applicants from outside the Community

      6. 10.General representatives

    4. Withdrawal of authorisation

      1. 11.Withdrawal of authorisation in respect of new business

      2. 12.Notices of withdrawal under section 11

      3. 13.Final withdrawal of authorisation

    5. Offences

      1. 14.Offences under Part I

  3. PART II Regulation of Insurance Companies

    1. Preliminary

      1. 15.Restriction of business to insurance

      2. 16.Exclusion of certain companies providing benefits in kind

    2. Accounts and statements

      1. 17.Actuarial investigation of long term business

      2. 18.Accounts and records

    3. Assets and liabilities of long term business

      1. 19.Application of assets

      2. 20.Allocations to policy holders

    4. Financial resources

      1. 21.Financial resources

    5. Intervention by Secretary of State

      1. 22.Grounds for intervention

      2. 23.Powers of intervention

      3. 24.Entry and search of premises

    6. Transfers of business

      1. 25.Approval of transfers of general business

      2. 26.Effect of approval under section 25

      3. 27.Transfers of long term business

    7. Change of manager, representative etc.

      1. 28.Change of manager etc. of company from outside United Kingdom

      2. 29.Change of main agent

  4. PART III Miscellaneous and General

    1. 30.Industrial assurance-apportionment

    2. 31.Lloyd's underwriters-financial resources

    3. 32.Lloyd's underwriters-transfers of business

    4. 33.Regulations

    5. 34.Insurance business

    6. 35.Interpretation

    7. 36.Minor and consequential amendments and repeals

    8. 37.Commencement

    9. 38.Short title and extent

  5. SCHEDULES

    1. SCHEDULE 1

      Classes of Long Term Business

    2. SCHEDULE 2

      General Business

      1. PART I Classes

      2. PART II Groups of Classes

    3. SCHEDULE 3

      Determination of Premium Limit

      1. 1.Subject to the following provisions of this Schedule, the premium...

      2. 2.If the accounts so deposited relate to a financial year...

      3. 3.If no accounts have been deposited under section 18 of...

    4. SCHEDULE 4

      Minor and consequential amendments

      1. PART I Amendments of Insurance Companies Act 1974

        1. 1.In section 12 of the Insurance Companies Act 1974—

        2. 2.References in section 23(1) and (2) to either or both...

        3. 3.In section 26(5), for the words "section 7(2)(c) above" there...

        4. 4.In section 28— (a) in subsection (1) for the words...

        5. 5.In section 34, at the end of subsection (3) there...

        6. 6.In section 39— (a) in subsection (1) for the words...

        7. 7.In section 40(1), for the words " sections 29 "...

        8. 8.In section 41— (a) at the end of subsection (1)...

        9. 9.In section 46, in paragraph (6) of subsections (1) and...

        10. 10.In section 57(4) for the words from " 21 "...

        11. 11.In section 61(1), in paragraph (c)(iv), at the end, there...

        12. 12.In section 65(1) for the words from " of a...

        13. 13.In section 68(1) for the words from " of the...

        14. 14.In sections 79 to 82, after the words "under this...

        15. 15.(1) Section 85 shall be amended as follows.

        16. 16.In section 87, after the words " this Act "...

      2. PART II Other Amendments

        1. 17.In section 20(2) of the Insurance Companies Act 1958 for...

        2. 18.In section 111(1) of the Companies Act 1967, after the...

        3. 19.In section 1(3)(b) of the Employers' Liability (Compulsory Insurance) Act...

        4. 20.In section 24(3) of the Fire Services Act (Northern Ireland)...

        5. 21.In Article 5(3)(b) of the Employer's Liability (Defective Equipment and...

        6. 22.In section 145(2) of the Road Traffic Act 1972 for...

        7. 23.In section 87(1) of the Solicitors Act 1974—

        8. 24.In paragraph l1(l0A) of Schedule 5 to the Finance Act...

        9. 25.(1) The Policyholders Protection Act 1975, shall be amended as...

        10. 26.In section 29(1) of the Insurance Brokers (Registration) Act 1977—...

        11. 27.In paragraph 8 of Schedule 1 to the Banking Act...

        12. 28.In Article 3(4) of the Industrial Assurance (Northern Ireland) Order...

        13. 29.In Article 101(1) of the Road Traffic (Northern Ireland) Order...

    5. SCHEDULE 5

      Repeals

      1. PART I Acts

      2. PART II Statutory Instruments

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