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Change 1
As published
81H Issue of certificates by Secretary of State.
(1) An insurance company whose head office is situated in the United Kingdom and which intends to provide insurance in another member State may apply to the Secretary of State for a certificate attesting—
(a) that the company possesses for its activities as a whole the minimum solvency margin calculated in accordance with the relevant provisions, and
(b) the company’s authorisation to carry on business in the United Kingdom, issued in accordance with Article 7(1) of therelevant Directive, enables the company to operate outside the member State of establishment.
(1A) In subsection (1) above “the relevant Directive" and “the relevant provisions" mean respectively–
(a) if the company intends to cover risks, the first general insurance Directive and Articles 16 and 17 of that Directive;
(b) if the company intends to cover commitments, the first long term insurance Directive and Articles 18, 19 and 20 of that Directive.
(2) insurance company which intends to provide insurance in another member State through an establishment in the United Kingdom may apply to the Secretary of State for a certificate—
(a) indicating the classes of insurance business which the company has been authorised to carry on in the United Kingdom, and
(b) stating that the Secretary of State does not object to the company providing the insurance.
(3) If it appears to the Secretary of State that a certificate applied for under subsection (1) or (2) ought to be issued, he shall issue the certificate accordingly.
(4) If the Secretary of State refuses to issue a certificate, he shall inform the company in writing of his decision and of the reasons for it.
Your change, as a redline
81H Issue of certificates by Secretary of State.
(1) An insurance company whose head office is situated in the United Kingdom and which intends to provide insurance in another member State may apply to the Secretary of State for a certificate attesting—
(a) that the company possesses for its activities as a whole the minimum solvency margin calculated in accordance with the relevant provisions, and
(b) the company’s authorisation to carry on business in the United Kingdom, issued in accordance with Article 7(1) of therelevant Directive, enables the company to operate outside the member State of establishment.
(1A) In subsection (1) above “the relevant Directive" and “the relevant provisions" mean respectively–
(a) if the company intends to cover risks, the first general insurance Directive and Articles 16 and 17 of that Directive;
(b) if the company intends to cover commitments, the first long term insurance Directive and Articles 18, 19 and 20 of that Directive.
(2) insurance company which intends to provide insurance in another member State through an establishment in the United Kingdom may apply to the Secretary of State for a certificate—
(a) indicating the classes of insurance business which the company has been authorised to carry on in the United Kingdom, and
(b) stating that the Secretary of State does not object to the company providing the insurance.
(3) If it appears to the Secretary of State that a certificate applied for under subsection (1) or (2) ought to be issued, he shall issue the certificate accordingly.
(4) If the Secretary of State refuses to issue a certificate, he shall inform the company in writing of his decision and of the reasons for it.
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