HC Deb 01 February 2000 vol 343 cc993-4

.—(1) A scheme is an insurance business transfer scheme if it—

  1. (a) satisfies one of the conditions set out in subsection (2);
  2. (b) results in the business transferred being carried on from an establishment of the transferee in an EEA State; and
  3. (c) is not an excluded scheme.
(2) The conditions are that—
  1. (a) the whole or part of the business carried on in one or more member States by a UK authorised person who has permission to deal in contracts of insurance ("the authorised person concerned") is to be transferred to another body ("the transferee");
  2. (b) the whole or part of the business, so far as it consists of reinsurance, carried on in the United Kingdom through an establishment there by an EEA firm qualifying for authorisation under Schedule 3 which has permission to deal in contracts of insurance ("the authorised person concerned") is to be transferred to another body ("the transferee");
  3. (c) the whole or part of the business carried on in the United Kingdom by an authorised person who is neither a UK authorised person nor an EEA firm but who has permission to deal in contracts of insurance ("the authorised person concerned") is to be transferred to another body ("the transferee").
 (3) A scheme is an excluded scheme for the purposes of this section if it falls within any of the following cases:

    c993
  1. CASE 1 9 words
    2. c993
  2. CASE 2 62 words
    3. cc993-4
  3. CASE 3 98 words
    4. c994
  4. CASE 4 256 words
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