HC Deb 09 February 2000 vol 344 cc333-4

1.—(1) For the purposes of section (Sanction of the court for business transfer schemes)(3) the appropriate certificates, in relation to an insurance business transfer scheme, are—

  1. (a) a certificate under paragraph 2;
  2. (b) if sub-paragraph (2) applies, a certificate under paragraph 3;
  3. (c) if sub-paragraph (3) applies, a certificate under paragraph 4;
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  4. (d) if sub-paragraph (4) applies, a certificate under paragraph 5.

(2) This sub-paragraph applies if—

  1. (a) the authorised person concerned is a UK authorised person which has received authorisation under Article 6 of the first life insurance directive or of the first non-life insurance directive from the Authority; and
  2. (b) the establishment from which the business is to be transferred under the proposed insurance business transfer scheme is in an EEA State other than the United Kingdom.

(3) This sub-paragraph applies if—

  1. (a) the authorised person concerned has received authorisation under Article 6 of the first life insurance directive from the Authority;
  2. (b) the proposed transfer relates to long-term insurance business; and
  3. (c) as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), an EEA State other than the United Kingdom is the State of the commitment.

(4) This sub-paragraph applies if—

  1. (a) the authorised person concerned has received authorisation under Article 6 of the first non-life insurance directive from the Authority;
  2. (b) the business to which the proposed insurance business transfer scheme relates is general insurance business; and
  3. (c) as regards any policy which is included in the proposed transfer and which evidences a contract of insurance (other than reinsurance), the risk is situated, in an EEA State other than the United Kingdom.

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