Schedule 3, Part 6 Amendment of Insurance Act 1989

1.

Section 2

Insert the following definition after the definition of "the Court":

" ‘EEA country' means a country that is a member of the European Economic Area;".

2.

Section 11

Substitute the following subsection for subsection (2):

"(2) The Bank has a right to disclose any such return or document to the supervisory authority of another EEA country so long as the disclosure is not prohibited by law.".

3.

Section 18

Substitute the following subsection for subsection (3):

"(3) If the head office of an undertaking is located in another EEA country, the Bank shall notify the supervisory authority of that country before issuing a direction under this section in respect of the undertaking.".

4.

Section 20

Substitute the following section for section 20:

"Qualifications, experience and fitness of directors, managers and authorised agents of insurers.