Insurance Companies Act 1982 (repealed)
Insurance Companies Act 1982 (repealed) (1982 c. 50)
- Insurance Companies Act 1982 (repealed) (1982 c. 50)
- Part I Restriction on Carrying on Insurance Business
- Preliminary
- 1 Classification.
- 2 Restriction on carrying on insurance business.
- Authorised insurance companies
- 3 Authorisation by Secretary of State.
- 4 Existing insurance companies.
- Applications for authorisation
- 5 Submission of proposals etc.
- 6 Combination of long term and general business.
- 7 United Kingdom applicants.
- 8 Applicants from other member States.
- 9 Applicants from outside the Community.
- 10 General representatives.
- Withdrawal of authorisation
- 11 Withdrawal of authorisation in respect of new business.
- 12 Notices of withdrawal under section 11.
- 12A Suspension of authorisation in urgent cases.
- 13 Final withdrawal of authorisation.
- Offences
- 14 Offences under Part I.
- Part II Regulation of Insurance Companies
- Preliminary
- 15 Insurance companies to which Part II applies.
- 16 Restriction of business to Insurance.
- Accounts and statements
- 17 Annual accounts and balance sheets.
- 18 Periodic actuarial investigation of company with long term business.
- 19 Appointment of actuary by company with long term business.
- 20 Annual statements by company with prescribed class of insurance business.
- 21 Audit of accounts.
- 21A Communication by auditor with Secretary of State.
- 22 Deposit of accounts etc. with Secretary of State.
- 23 Right of shareholders and policy holders to receive copies of deposited documents.
- 24 Deposit of accounts etc. by registered society.
- 25 Periodic statements by company with prescribed class of business.
- 26 Statements of transactions of prescribed class or description.
- 27 Companies from outside the Community.
- Assets and liabilities attributable to long term business
- 28 Separation of assets and liabilities attributable to long term business.
- 29 Application of assets of company with long term business.
- 30 Allocations to policy holders.
- 31 Restriction on transactions with connected persons.
- 31A Arrangement to avoid unfairness between separate insurance funds etc.
- Financial resources
- 32 Margins of solvency.
- 33 Failure to maintain minimum margin.
- 34 Companies supervised in other member States.
- 34A General business: equalisation reserve.
- 35 Form and situation of assets.
- 35A Adequacy of assets.
- 35B Adequacy of premiums: long term business.
- Liabilities of unlimited amount
- 36 Avoidance of contracts for unlimited amounts.
- Powers of intervention
- 37 Grounds on which powers are exercisable.
- 38 Requirements about investments.
- 39 Maintenance of assets in the United Kingdom.
- 40 Custody of assets.
- 40A Prohibition on disposal of assets.
- 41 Limitation of premium income.
- 42 Actuarial investigations.
- 43 Acceleration of information required by accounting provisions.
- 43A General investigations.
- 44 Power to obtain information and require production of documents.
- 44A Entry and search of premises.
- 45 Residual power to impose requirements for protection of policy holders.
- 46 Notice of proposed exercise of powers on ground of unfitness of certain persons.
- 47 Rescission, variation and publication of requirements.
- 47A Restriction on disclosure of information.
- 47B Privilege from disclosure.
- 48 Power of Secretary of State to bring civil proceedings on behalf of insurance company.
- Transfers of long term business
- 49 Transfers of long term and general general business.
- 49A Transfer of long term business to friendly society.
- [49B]. Modifications of section 49 in certain cases.
- 50 Provisions supplementary to section 49.
- Transfers of general business
- 51 Approval of transfers of general business.
- 52 Effect of approval under section 51.
- 52A Issue of certificates by Secretary of State.
- 52B Effect of transfers authorised in other EEA States.
- Winding up
- 53 Winding up of insurance companies under Companies Acts.
- 54 Winding up on petition of Treasury.
- 55 Winding up of insurance companies with long term business.
- 56 Continuation of long term business of insurance companies in liquidation.
- 57 Subsidiary companies.
- 58 Reduction of contracts as alternative to winding up.
- 59 Winding up rules.
- Changes of director, controller or manager etc.
- 60 Approval of proposed managing director or chief executive of insurance company.
- 61 Approval of person proposing to become controller of insurance company where section 60 does not apply.
- 61A Approval of acquisition of notifiable holding in UK company.
- 61B Further provisions with respect to controllers of UK companies.
- 62 Duty to notify change of director, controller or manager.
- 63 Change of manager etc. of company from outside United Kingdom.
- 63A Duty to notify change of control
- 64 Duty to notify change of main agent.
- Miscellaneous
- 65 Documents deposited with Secretary of State.
- 66 Documents deposited in Northern Ireland.
- 67 Power to treat certain business as or as not being ordinary long-term insurance business.
- 68 Power to modify Part II in relation to particular companies.
- 69 Power to alter insurance company’s financial year.
- 70 Service of notices.
- 71 Offences under Part II.
- Part III Conduct of Insurance Business
- 72 Insurance advertisements.
- 72A Information for policy holders of UK insurers and EC companies.
- 72B Information for policy holders of EFTA companies.
- 73 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 74 Intermediaries in insurance transactions.
- 75 Statutory notice by insurer in relation to long term policy.
- 76 Right to withdraw from transaction in respect of long term policy.
- 77 Service of notice of cancellation.
- 78 Linked long term policies.
- 79 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
- 80 Capital redemption business.
- 81 Penalties and offences under Part III.
- PART IIIA RECOGNITION IN ACCORDANCE WITH INSURANCE DIRECTIVES
- Introduction
- 81A Recognition in the United Kingdom of EC and EFTA companies.
- Provision of insurance in the United Kingdom
- 81B Recognition in other EEA States of UK insurers.
- 81C Information to be given to policy holder.
- 81CC Additional requirements with respect to relevant motor vehicle risks.
- 81D Powers of intervention
- 81E Power to require information.
- 81F Withdrawal of authorisation.
- Provision of insurance in another member State
- 81G Notification to Secretary of State.
- 81H Issue of certificates by Secretary of State.
- 81I Provisions as to transfer of business.
- Supplementary provisions
- 81J Offences under Part IIIA.
- Part IV Special Classes of Insurers
- 82 Industrial assurance business.
- 83 Requirements to be complied with by Lloyd’s underwriters.
- 83A Lloyd’s underwriters— insurance Directives.
- 84 Lloyd’s underwriters —financial resources.
- 85 Lloyd’s underwriters —transfer of business.
- 86 Statement of business by Committee of Lloyd’s.
- 87 Companies established outside the United Kingdom.
- 88 Unregistered companies.
- 89 Insurance companies formed before 1967 in contravention of section 434 of the Companies Act
- Part V Supplementary Provisions
- Valuation regulations
- 90 Power to make valuation regulations.
- Criminal proceedings
- 91 Criminal liability of directors.
- 92 Criminal proceedings against unincorporated bodies.
- 93 Restriction on institution of prosecutions.
- 94 Summary proceedings.
- Law applicable to certain contracts of insurance
- 94B Law applicable to certain contracts of insurance.
- Fees
- 94A Fees.
- Interpretation
- 95 Insurance business.
- 96 General interpretation.
- 96A Interpretation of expressions derived from . . . insurance Directives.
- 96B Meaning of “large risks”.
- 96C Meaning of 'controller’etc.
- 96D Meanings of 'manager’ and 'chief executive’.
- 96E Meaning of 'main agent’.
- 96F Meaning of 'claims representative’.
- Supplementary
- 97 Regulations and orders.
- 98 Annual report by Treasury.
- 99 Savings, transitionals, consequential amendments and repeals.
- 100 Short title, commencement and extent.
- SCHEDULES
- SCHEDULE 1 Classes of Long Term Business
- SCHEDULE 2 General Business
- Part I Classes
- Part II Groups of Classes
- SCHEDULE 2A CRITERIA OF SOUND AND PRUDENT MANAGEMENT
- Integrity and skill
- Direction and management of the insurance company
- Business to be conducted in a sound and prudent manner
- SCHEDULE 2B] RESTRICTION ON DISCLOSURE OF INFORMATION
- PART I INFORMATION RELATING TO UK, EC AND NON-EC COMPANIES
- Restriction on disclosure
- Disclosure for facilitating discharge of functions by Secretary of State
- Disclosure for facilitating discharge of functions by other regulatory authorities
- Other permitted disclosures
- Information supplied by a supervisory authority
- PART II INFORMATION RELATING TO OTHER PERSONS
- Restriction on disclosure
- Permitted disclosures
- [SCHEDULE 2C] TRANSFERS OF INSURANCE BUSINESS
- PART I TRANSFERS OF LONG TERM BUSINESS
- Sanction of court required
- Procedure with respect to applications
- Determination of applications
- Rights of policy holders
- Supplementary provisions
- PART II TRANSFERS OF GENERAL BUSINESS
- Approval of Secretary of State required
- Procedure with respect to applications
- Determination of applications
- Rights of policy holders
- Effect of approval of Secretary of State
- [SCHEDULE 2D] FURTHER PROVISIONS WITH RESPECT TO CONTROLLERS OF UK COMPANIES
- Provisions supplementing sections 60 to 61A
- Notice of objection where requisite notice not given
- Notices imposing conditions
- Objection to existing controller
- Restrictions etc. as respects shareholdings
- [SCHEDULE 2E] INFORMATION FOR POLICY HOLDERS OF UK INSURERS AND EC COMPANIES
- Information before contract of long term insurance
- Information during contract of long term insurance
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- Information before contract of general insurance
- General
- SCHEDULE 2F] RECOGNITION IN THE UNITED KINGDOM OF EC AND EFTA COMPANIES
- PART I EC COMPANIES CARRYING ON BUSINESS ETC. IN THE UNITED KINGDOM
- Requirements for carrying on direct insurance business
- Requisite details for purposes of paragraphs 1 and 2
- Requirements for carrying on reinsurance business
- Requisite details for purposes of paragraphs 4 and 5
- Power of Secretary of State where notice given under paragraph 4 or 5
- Requirements for providing insurance
- Requisite details for purposes of paragraphs 8 and 9
- Additional requirements for covering relevant motor vehicle risks
- Power to prevent disposal of assets
- Powers to obtain information
- Residual power to protect policy holders
- Powers of intervention
- Power to withdraw recognition
- PART II EFTA COMPANIES PROVIDING INSURANCE IN UNITED KINGDOM
- Documents to be furnished to the Secretary of State
- Additional requirements with respect to relevant motor vehicle risks
- Powers of intervention
- Power to require information
- Withdrawal of authorisation
- PART III EFTA COMPANIES PROVIDING INSURANCE THROUGH ESTABLISHMENTS IN THE UNITED KINGDOM
- Notification to Secretary of State
- Issue of certificates by Secretary of State
- PART IV SUPPLEMENTAL
- Offences
- Interpretation etc.
- Gibraltar
- SCHEDULE 2G RECOGNITION IN OTHER EEA STATES OF UK INSURERS
- PART I UK INSURERS CARRYING ON BUSINESS ETC. IN OTHER MEMBER STATES
- Requirements for carrying on direct insurance business
- Requisite details for purposes of paragraphs 1 to 3
- Requirements for providing insurance
- Requisite details for purposes of paragraphs 5 and 6
- Requirement to notify cessation of insurance business etc.
- PART II UK INSURERS PROVIDING INSURANCE IN EFTA STATES
- Notification to Secretary of State
- Issue of certificates by Secretary of State
- PART III UK INSURERS PROVIDING INSURANCE IN THE UNITED KINGDOMTHROUGH BRANCHES IN OTHER EEA STATES
- PART IV SUPPLEMENTAL
- Offences
- Interpretation
- SCHEDULE 3 Determination of Premium Limit
- SCHEDULE 3A Law applicable to certain contracts of insurance
- PART II LONG TERM BUSINESS
- General rules as to applicable law
- mandatory rules
- supplementary provisions
- SCHEDULE 4 Saving and Transitional Provisions
- Saving for requirements, directions and powers under the Companies Act 1967
- Periodic actuarial investigations under section 18 above in relation to any period of twelve months beginning before 1st October 1982
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- Adjustments of established surplus for purposes of section 30(1) above
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- Margins of solvency
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- Postponement of coming into force of section 36 above
- Saving for schemes of operation submitted under Insurance Companies (Authorisation and Accounts: General Business) Regulations
- Saving for requirements under section 29 of the Insurance Companies Act 1974
- Postponement of effect of sections 37(3) and 38(3) above in respect of long term business
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- Deposits made with Accountant General before 1st January 1982
- Continuation of business where contract made before 1st January 1982
- Applications for approval of transfer made before 1st January 1982
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- Saving for section 42 of the Insurance Companies Act 1974
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- Saving for winding up commenced before rules made under section 365 of the Companies Act or section 317 of the Companies (Northern Ireland) Order 1986
- Saving for repeal of section 17(2) and (3) of, and Schedules 3 and 4 to, the Insurance Companies Act 1958
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- Northern Ireland
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- Continuing offences
- Transitional provisions relating to sections 9(7), 71(3), 81(2) and 88(2) of this Act
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- General
- SCHEDULE 5 CONSEQUENTIAL AMENDMENTS
- The Companies Act 1948
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- The Companies Act 1967
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- The Children and Young Persons Act (Northern Ireland) Act 1968
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- The Employers’ Liability (Compulsory Insurance) Act 1969
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- The Employer’s Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972
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- The Local Government Act 1972
- The Consumer Credit Act 1974
- The Solicitors Act 1974
- The Policyholders Protection Act 1975
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- The Insurance Brokers (Registration) Act 1977
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- The Credit Unions Act 1979
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- The Industrial Assurance (Northern Ireland) Order 1979
- The Companies Act 1980
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- The Companies Act 1981
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- The Road Traffic (Northern Ireland) Order 1981
- SCHEDULE 6 REPEALS
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