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Change 1
As published
15 Insurance companies to which Part II applies.
(1) Subject to the provisions of this section, this Part of this Act applies to—
(a) all insurance companies, whether established within or outside the United Kingdom, which carry on insurance business within the United Kingdom; and
(b) all UK companies which carry on business in a member State other than the United Kingdom.
(1A) Except as otherwise provided by Part I of Schedule 2F to this Act, this Part of this Act except—
(a) sections 47A, 47B, 52A, 52B, 54 to 59 and Schedule 2B; and
(b) section 49 and Schedule 2C so far as relating to the transfer of policies which evidence contracts of reinsurance,
does not apply to an EC company in so far as it is carrying on insurance business through a branch in respect of which such of the requirements of Part I of Schedule 2F to this Act as are applicable have been complied with.
(2) This Part of this Act does not apply to any insurance company which is registered under the enactments relating to friendly societies.
(3) Where a trade union or an employers’ association carries on insurance business, this Part of this Act does not apply to it as an insurance company if the insurance business is limited to the provision for its members of provident benefits or strike benefits.
In this subsection “trade union” and “employers’ association” have (throughout the United Kingdom) the meanings respectively assigned by section 1 and section 122(1) of the Trade Union and Labour Relations (Consolidation) Act 1992.
(4) This Part of this Act does not apply to a member of Lloyd’s who carries on insurance business of any class provided that . . .the requirements set out in section 83 below and applicable to business of that class are complied with by or in respect of him.
(5) This Part of this Act does not apply to a person by reason only that he carries on general business of class 14, 15, 16 , 17 or 18 in the course of carrying on, and for the purposes of, banking business.
(6) This Part of this Act does not apply to an insurance company whose insurance business is restricted to general business consisting in the effecting and carrying out of contracts of such descriptions as may be prescribed, being contracts under which the benefits provided by the insurer are exclusively or primarily benefits in kind.
Your change, as a redline
15 Insurance companies to which Part II applies.
(1) Subject to the provisions of this section, this Part of this Act applies to—
(a) all insurance companies, whether established within or outside the United Kingdom, which carry on insurance business within the United Kingdom; and
(b) all UK companies which carry on business in a member State other than the United Kingdom.
(1A) Except as otherwise provided by Part I of Schedule 2F to this Act, this Part of this Act except—
(a) sections 47A, 47B, 52A, 52B, 54 to 59 and Schedule 2B; and
(b) section 49 and Schedule 2C so far as relating to the transfer of policies which evidence contracts of reinsurance,
does not apply to an EC company in so far as it is carrying on insurance business through a branch in respect of which such of the requirements of Part I of Schedule 2F to this Act as are applicable have been complied with.
(2) This Part of this Act does not apply to any insurance company which is registered under the enactments relating to friendly societies.
(3) Where a trade union or an employers’ association carries on insurance business, this Part of this Act does not apply to it as an insurance company if the insurance business is limited to the provision for its members of provident benefits or strike benefits.
In this subsection “trade union” and “employers’ association” have (throughout the United Kingdom) the meanings respectively assigned by section 1 and section 122(1) of the Trade Union and Labour Relations (Consolidation) Act 1992.
(4) This Part of this Act does not apply to a member of Lloyd’s who carries on insurance business of any class provided that . . .the requirements set out in section 83 below and applicable to business of that class are complied with by or in respect of him.
(5) This Part of this Act does not apply to a person by reason only that he carries on general business of class 14, 15, 16 , 17 or 18 in the course of carrying on, and for the purposes of, banking business.
(6) This Part of this Act does not apply to an insurance company whose insurance business is restricted to general business consisting in the effecting and carrying out of contracts of such descriptions as may be prescribed, being contracts under which the benefits provided by the insurer are exclusively or primarily benefits in kind.
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