Insurance Companies Act 1982 (repealed)
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Change 1
SCHEDULE 4 Saving and Transitional Provisions
Section 99(1). Saving for requirements, directions and powers under the Companies Act 1967 1 The repeal by the Insurance Companies Amendment Act 1973 of sections 65, 68 and 80 and subsection (1)(f) of section 109 of the Companies Act 1967 shall not affect— (a) any requirement or direction imposed or given under any of those sections before 25th July 1973; (b) the giving of a direction under the said section 68 in any case in which a notice has been served under subsection (3) of that section before that date; or (c) the exercise by an officer of any powers under the said section 109 in a case in which he has been authorised before that date to exercise them; and the said Act of 1967 shall have effect in relation to any such requirement, direction or powers as if the said Act of 1973, the Insurance Companies Act 1974 and this Act had not been passed. Periodic actuarial investigations under section 18 above in relation to any period of twelve months beginning before 1st October 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Adjustments of established surplus for purposes of section 30(1) above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Margins of solvency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Postponement of coming into force of section 36 above 6 . . .Section 36 of this Act shall not take effect until the first regulations under the said section . . .36 come into operation. Saving for schemes of operation submitted under Insurance Companies (Authorisation and Accounts: General Business) Regulations 7 For the purposes of section 37(2)(f) of this Act, a scheme of operations submitted pursuant to regulation 5 of the Insurance Companies (Authorisation and Accounts: General Business) Regulations 1978 shall be regarded as a proposal or forecast submitted in accordance with section 5 of this Act. Saving for requirements under section 29 of the Insurance Companies Act 1974 8 Where a requirement under section 29 of the Insurance Companies Act 1974 was in force immediately before 1st January 1982— (a) that requirement shall continue in force, (b) any requirement imposed under sections 30 to 37 of that Act on the company concerned, if it was in force immediately before that day, shall continue in force, and (c) section 47(1) of this Act shall apply to any requirement that continues in force under sub-paragraph (a) or (b) above. Postponement of effect of sections 37(3) and 38(3) above in respect of long term business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Deposits made with Accountant General before 1st January 1982 10 A deposit made under regulation 6 of the Insurance Companies (Solvency: General Business) Regulations 1977 shall, in so far as it remained with the Accountant General of the Supreme Court immediately before 1st January 1982, be regarded as having been made under section 9(1)(c) of this Act. Continuation of business where contract made before 1st January 1982 11 Where— (a) as a result of the repeal of section 83(2)(b) of the Insurance Companies Act 1974 any particular kind of ordinary long-term insurance business has become general business, and (b) an insurance company was immediately before 1st January 1982 lawfully carrying on that particular kind of business in the United Kingdom, then, notwithstanding the lack of an authorisation to carry on general business, the company may continue to carry out any contract of insurance relating to that particular kind of business if the contract was made before 1st January 1982. Applications for approval of transfer made before 1st January 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Saving for section 42 of the Insurance Companies Act 1974 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 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 15 The provisions of this Act, so far as re-enacting provisions of the Insurance Companies Act 1974 which repealed and re-enacted provisions of the Insurance Companies Amendment Act 1973 relating to winding up, shall not affect any winding up commenced before the date on which the first rules made under section 365 of the Companies Act or, as the case may be, section 317 of the Companies (Northern Ireland) Order 1986 by virtue of . . . section 59(2) above come into operation. Saving for repeal of section 17(2) and (3) of, and Schedules 3 and 4 to, the Insurance Companies Act 1958 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Northern Ireland 17 Section 17(2)(a) of the Interpretation Act 1978 shall not apply to the reference to the Insurance Companies Act 1974 in paragraph 2 of Schedule 4 to the Insurance Companies Act 1980. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Continuing offences 19 Where an offence for the continuance of which a penalty was provided has been committed under any enactment repealed by this Act proceedings may be taken under this Act in respect of the continuance of the offence after the commencement of this Act in the like manner as if the offence had been committed under the corresponding provision of this Act. Transitional provisions relating to sections 9(7), 71(3), 81(2) and 88(2) of this Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 General 22 Subject to paragraph 17 above and without prejudice to any express amendment made by this Act, any enactment or other document whatsoever referring to any enactment repealed by this Act shall, unless the context otherwise requires, be construed as referring (or as including a reference) to the corresponding enactment in this Act. 23 Without prejudice to paragraph 22 above, any enactment or document whatsoever referring to an assurance company within the meaning of the Assurance Companies Act 1909 shall be construed as referring (or as including a reference) to an insurance company to which Part II of this Act applies. 24 Where a period of time specified in any enactment repealed by this Act is current at the commencement of this Act, this Act has effect as if the corresponding provision of this Act had been in force when that period began to run.
SCHEDULE 4 Saving and Transitional Provisions
Section 99(1). Saving for requirements, directions and powers under the Companies Act 1967 1 The repeal by the Insurance Companies Amendment Act 1973 of sections 65, 68 and 80 and subsection (1)(f) of section 109 of the Companies Act 1967 shall not affect— (a) any requirement or direction imposed or given under any of those sections before 25th July 1973; (b) the giving of a direction under the said section 68 in any case in which a notice has been served under subsection (3) of that section before that date; or (c) the exercise by an officer of any powers under the said section 109 in a case in which he has been authorised before that date to exercise them; and the said Act of 1967 shall have effect in relation to any such requirement, direction or powers as if the said Act of 1973, the Insurance Companies Act 1974 and this Act had not been passed. Periodic actuarial investigations under section 18 above in relation to any period of twelve months beginning before 1st October 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Adjustments of established surplus for purposes of section 30(1) above . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Margins of solvency . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Postponement of coming into force of section 36 above 6 . . .Section 36 of this Act shall not take effect until the first regulations under the said section . . .36 come into operation. Saving for schemes of operation submitted under Insurance Companies (Authorisation and Accounts: General Business) Regulations 7 For the purposes of section 37(2)(f) of this Act, a scheme of operations submitted pursuant to regulation 5 of the Insurance Companies (Authorisation and Accounts: General Business) Regulations 1978 shall be regarded as a proposal or forecast submitted in accordance with section 5 of this Act. Saving for requirements under section 29 of the Insurance Companies Act 1974 8 Where a requirement under section 29 of the Insurance Companies Act 1974 was in force immediately before 1st January 1982— (a) that requirement shall continue in force, (b) any requirement imposed under sections 30 to 37 of that Act on the company concerned, if it was in force immediately before that day, shall continue in force, and (c) section 47(1) of this Act shall apply to any requirement that continues in force under sub-paragraph (a) or (b) above. Postponement of effect of sections 37(3) and 38(3) above in respect of long term business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Deposits made with Accountant General before 1st January 1982 10 A deposit made under regulation 6 of the Insurance Companies (Solvency: General Business) Regulations 1977 shall, in so far as it remained with the Accountant General of the Supreme Court immediately before 1st January 1982, be regarded as having been made under section 9(1)(c) of this Act. Continuation of business where contract made before 1st January 1982 11 Where— (a) as a result of the repeal of section 83(2)(b) of the Insurance Companies Act 1974 any particular kind of ordinary long-term insurance business has become general business, and (b) an insurance company was immediately before 1st January 1982 lawfully carrying on that particular kind of business in the United Kingdom, then, notwithstanding the lack of an authorisation to carry on general business, the company may continue to carry out any contract of insurance relating to that particular kind of business if the contract was made before 1st January 1982. Applications for approval of transfer made before 1st January 1982 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Saving for section 42 of the Insurance Companies Act 1974 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 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 15 The provisions of this Act, so far as re-enacting provisions of the Insurance Companies Act 1974 which repealed and re-enacted provisions of the Insurance Companies Amendment Act 1973 relating to winding up, shall not affect any winding up commenced before the date on which the first rules made under section 365 of the Companies Act or, as the case may be, section 317 of the Companies (Northern Ireland) Order 1986 by virtue of . . . section 59(2) above come into operation. Saving for repeal of section 17(2) and (3) of, and Schedules 3 and 4 to, the Insurance Companies Act 1958 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Northern Ireland 17 Section 17(2)(a) of the Interpretation Act 1978 shall not apply to the reference to the Insurance Companies Act 1974 in paragraph 2 of Schedule 4 to the Insurance Companies Act 1980. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Continuing offences 19 Where an offence for the continuance of which a penalty was provided has been committed under any enactment repealed by this Act proceedings may be taken under this Act in respect of the continuance of the offence after the commencement of this Act in the like manner as if the offence had been committed under the corresponding provision of this Act. Transitional provisions relating to sections 9(7), 71(3), 81(2) and 88(2) of this Act . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 General 22 Subject to paragraph 17 above and without prejudice to any express amendment made by this Act, any enactment or other document whatsoever referring to any enactment repealed by this Act shall, unless the context otherwise requires, be construed as referring (or as including a reference) to the corresponding enactment in this Act. 23 Without prejudice to paragraph 22 above, any enactment or document whatsoever referring to an assurance company within the meaning of the Assurance Companies Act 1909 shall be construed as referring (or as including a reference) to an insurance company to which Part II of this Act applies. 24 Where a period of time specified in any enactment repealed by this Act is current at the commencement of this Act, this Act has effect as if the corresponding provision of this Act had been in force when that period began to run.
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