HL Deb 27 July 1967 vol 285 cc1246-7

[Nos. 134–137]

Clause 49, page 50, line 15, leave out from ("was") to end of line 18 and insert ("carrying on in Great Britain insurance business (whether of that class or not)")

Clause 50: Leave out Clause 50 and insert the following new clause—

Authorisations for purposes of section 49

("—(1) In the case of insurance business of each class relevant for the purposes of this Part of this Act (other than industrial assurance business), the following shall, by virtue of this subsection, be authorised to carry it on in Great Britain, namely,—

  1. (a) an incorporated company which, immediately before 3rd November 1966, was carrying it on in Great Britain;
  2. (b) a registered society which, immediately before that day, was so carrying it on; and
  3. (c) an unincorporated body of persons which, immediately before that day, was so carrying it on:

(not being, as the case may be, a company, society or body that was then carrying on business in contravention of section 2(1) of the principal Act) and, in the case of industrial assurance business, the following shall, by virtue of this subsection, be authorised to carry it on in Great Britain, namely—

  1. (i) an incorporated company which, immediately before 3rd November 1966, was carrying it on in Great Britain; and
  2. (ii) a registered society which, immediately before that day, was so carrying it on;
(not being, as the case may he, a company or society that was then carrying it on in contravention of the said section 2(1)).

(2) Subject to the following provisions of this Part of this Act, the Board of Trade may, in the case of insurance business of each class relevant for the purposes of this Part of this Act (other than industrial assurance business), authorise the following to carry it on in Great Britain, namely,—

  1. (a) an incorporated company;
  2. (b) a registered society; and
  3. (c) an unincorporated body which, immediately before 3rd November 1966, was carrying on in Great Britain insurance business (whether of that class or not);
and may, in the case of industrial assurance business, authorise an incorporated company and a registered society to carry it on in Great Britain.")

Clause 51, page 51, line 25, leave out ("the last foregoing section") and insert ("section (Authorisations for purposes of section 49) of this Act")

Clause 51, page 51, line 30, leave out from ("Britain)") to ("business") in line 33 and insert ("general")

LORD WALSTON

My Lords, I beg to move Amendments Nos. 134 to 137 inclusive.

Moved, That this House doth agree with the Commons in the said Amendments.—(Lord Walston.)

On Question, Motion agreed to.

5.35 p.m.