PART IIAMENDMENTS OF 1982 ACT
CHAPTER IRESTRICTION ON CARRYING ON INSURANCE BUSINESS
Preliminary
Classification of long term business3
At the end of Schedule 1 to the 1982 Act (classes of long term business) insert—
VIII
Collective insurance etc.
Effecting and carrying out contracts of a kind referred to in Article 1(2)(e) of the first long term insurance Directive.
IX
Social insurance
Effecting and carrying out contracts of a kind referred to in Article 1(3) of the first long term insurance Directive.
Restriction on carrying on insurance business4
1
After subsection (1) of section 2 of the 1982 Act (restriction on carrying on insurance business) insert—
1A
Subsection (1) above shall not apply to insurance business carried on by anEC company through a branch in respect of which such of the requirements of Part I of Schedule 2F to this Act as are applicable have been complied with.
2
After subsection (5) of that section insert—
6
In this Act ‘EC company’ means an insurance company—
a
which is incorporated in or formed under the law of a member State other than the United Kingdom;
b
whose head office is in that member State; and
c
which is authorised in accordance with Article 6 of the first general insurance Directive or Article 6 of the first long term insurance Directive.