European Communities (Life Assurance) Framework Regulations, 1994 [S.I. No. 360 of 1994]

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Version status: In force | Document consolidation status: Updated to reflect all known changes

Published date: 29 November 1994

Consolidation Status: Updated to reflect all known changes

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	Introductory Text
	Part 1 Citation and Commencement, Interpretation, Scope and Taking up the Business of Life Assurance (regs. 1-9)
In force	Regulation 1 Citation and commencement.
In force	Regulation 2 Interpretation.
In force	Regulation 2A Determination of voting rights for certain purposes.
In force	Regulation 3 Technical adjustments.
In force	Regulation 4 Scope.
Revoked	Regulation 5 Powers of Court.
In force	Regulation 6 Authorisation/composite insurance undertakings.
In force	Regulation 6A Separation of life insurance and non-life insurance management.
In force	Regulation 7 Conditions when applying for authorisation.
In force	Regulation 8 Notification of conditions and documents.
In force	Regulation 9 Identities of shareholders.
	Part 2 Financial Supervision, Technical Reserves Provisions, Annual Returns, Accounts and Investigations, Statements, Audit and Auditor's Report, Certificates (regs. 10-34)
In force	Regulation 10 Financial supervision of insurance undertaking.
In force	Regulation 11 On the spot verification.
In force	Regulation 12 Maintenance/determination of technical reserves, including mathematical reserves, solvency margin, determination of liabilities, localisation of assets, currency matching, register of assets.
In force	Regulation 13 Annual returns, statistical documents.
In force	Regulation 14 Enforcement of continued compliance with obligations.
In force	Regulation 15 Periodic actuarial investigations.
In force	Regulation 16 Amount of liabilities and value of assets.
In force	Regulation 17 Accounts and returns laid before annual general meeting.
In force	Regulation 18 Modification of Insurance Acts in relation to accounts and other documents.
In force	Regulation 19 Deposit of documents with Bank.
In force	Regulation 20 Lodging of documents in Companies Office.
In force	Regulation 21 Certain documents to be laid before Oireachtas.
In force	Regulation 22 Accounts and statements.
In force	Regulation 23 Annual accounts.
In force	Regulation 24 Contents and form of account.
In force	Regulation 25 Revenue account.
In force	Regulation 26 Additional information.
In force	Regulation 27 Profit and loss account.
In force	Regulation 28 Balance sheet.
In force	Regulation 29 Periodic actuarial investigation.
In force	Regulation 30 Signature of documents.
In force	Regulation 31 Audit and auditor's report.
In force	Regulation 32 Certificates.
In force	Regulation 33 Transitional provisions.
In force	Regulation 34 General: References to Community deposit undertaking.
	Part 3 Assignment of Policies, Failure to Comply with Technical Reserves Provisions including Mathematical Reserves, Withdrawal/Lapse of Authorisation (regs. 35-39)
Revoked	Regulation 35 Assignment of policies.
In force	Regulation 36 Failure to comply with technical reserves provisions including mathematical reserves.
In force	Regulation 36A Insurance undertaking to provide plan for restoring its finances if required to do so by the Bank.
In force	Regulation 37 Withdrawal/lapse of authorisation.
In force	Regulation 38 Provisions applying in the case of revocation.
In force	Regulation 39 Reasons for revocation.
	Part 4 Acquisition and Disposal of Certain Interests in Insurance Undertakings (regs. 40-41)
In force	Regulation 40 Interpretation: Part 4.
In force	Regulation 40A Restrictions on acquiring and disposing of qualifying holdings in insurance undertakings.
In force	Regulation 40B Insurance undertakings to provide information in relation to certain acquisitions and disposals.
In force	Regulation 40C Period for assessment of proposed acquisition.
In force	Regulation 40D Assessment of proposed acquisitions.
In force	Regulation 40E Bank to cooperate with competent authorities of other Member States in certain cases.
In force	Regulation 40F Bank may fix period for completion of acquisition etc.
In force	Regulation 40G Notice of Bank's decision.
In force	Regulation 40H Bank may oppose certain acquisitions.
In force	Regulation 40I Decision to oppose proposed acquisition to be appealable.
In force	Regulation 40J Circumstances in which proposed acquisition not to be completed.
In force	Regulation 40K Effect of section 201 of the Companies Act 1963.
In force	Regulation 40L Insurance undertakings to provide information about shareholdings, etc.
In force	Regulation 40M Offence of providing false or misleading information, etc.
In force	Regulation 40N Power of Court to make certain orders.
Revoked	Regulation 41 Obligation of professional secrecy/exchanges of confidential information.
	Part 5 Choice of Law, General Good Requirements, Notification of Documents, Policyholder Disclosure, Cancellation Rights (regs. 42-45)
In force	Regulation 42 Law applicable to insurance contracts.
In force	Regulation 43 General good requirements.
In force	Regulation 44 Notification of documents/scales of premiums.
In force	Regulation 45 Policyholder disclosure rules/cancellation rights.
	Part 6 Right of Establishment, Freedom to Provide Services, General Conditions, Prevention of Irregularities (regs. 46-54)
Revoked	Regulation 46 Provisions related to right of establishment of a branch outside the State.
In force	Regulation 47 Amendment to branch information.
Revoked	Regulation 48 Conditions for establishing a branch in the State.
In force	Regulation 49 Amendment to branch information.
Revoked	Regulation 50 Conditions for carrying on insurance business by way of service into another Member State.
Revoked	Regulation 51 Conditions for carrying on insurance business by way of service into the State.
In force	Regulation 52 Amendment to services information.
In force	Regulation 53 General conditions related to services and branch insurance business.
In force	Regulation 54 Prevention of irregularities.
	Part 7 Advertising, Winding-up, Statistical Requirements (regs. 55-59)
In force	Regulation 55 Advertising.
In force	Regulation 56 Winding-up.
In force	Regulation 57 Statistical information.
In force	Regulation 58 Statistical requirement regarding services and branch insurance business.
In force	Regulation 59 Statistical information in the general good.
	Part 8 Fiscal Arrangements, Acquired Rights, Right of Appeal (regs. 60-62)
In force	Regulation 60 Fiscal arrangements.
In force	Regulation 61 Acquired rights.
Revoked	Regulation 62 Right of appeal to Court.
	Part 9 Provisions Related to Branches of Third Country Insurance Undertakings, Rules Applicable to the Assignment of Third Country Branch Policies, Penalties, Fees (regs. 63-74)
Revoked	Regulation 63 Third country branch provisions.
Revoked	Regulation 64 Application for authorisation.
Revoked	Regulation 65 Conditions of admission.
Revoked	Regulation 66 Technical reserves including mathematical reserves.
Revoked	Regulation 67 Solvency margin.
Revoked	Regulation 68 Guarantee Fund.
Revoked	Regulation 69 Annual returns.
Revoked	Regulation 70 Advances under Article 30 of the First Directive.
Revoked	Regulation 71 Application of Articles 36 and 37.
In force	Regulation 72 Assignment of third country branch insurance policies.
In force	Regulation 73 Penalties.
In force	Regulation 74 Lodgement of applications for authorisations.
	Part 10 Reciprocity Provisions, Interpretation of Sections 93 and 94 of the Insurance Act, 1936 (regs. 75-80)
Revoked	Regulation 75 Application of articles 75 to 79 to third country undertakings and acquisitions by such undertakings.
Revoked	Regulation 76 Definitions.
Revoked	Regulation 77 Notification to the Commission of authorisations and acquisitions of undertakings governed by the laws of a third country.
Revoked	Regulation 78 Notification to the Commission of difficulties encountered in establishing or carrying on business in a third country.
Revoked	Regulation 79 Reciprocity measures.
In force	Regulation 80 Interpretation of Sections 93 and 94 of the Insurance Act, 1936.
In force	Annex I
In force	Annex II Solvency Margins and Guarantee Funds
Revoked	Annex III Information to be supplied to the policyholder
In force	Annex IV Determination of liabilities
In force	Annex V Valuation of assets
In force	Annex VI Implicit Items
In force	Annex VII Reinsurance, Currency Matching, Localisation, Documents of Title
In force	Schedule 1 Summary of Accounts to be Completed Annually
In force	Schedule 2 Forms of Account and Additional Information
	Schedule 3
In force	Schedule 3, Part 1 Auditors' Report
In force	Schedule 3, Part 2 Certificate by directors etc.
In force	Schedule 3, Part 3 Certificate by appointed actuary
In force	Schedule 4 Abstract of Valuation Report Prepared by the Appointed Actuary
In force	Schedule 5 Statement of Life Assurance Business by the Appointed Actuary
	Schedule 6 Value of Dependants
In force	Schedule 6, Part 1 The Supplementary Amount
In force	Schedule 6, Part 2 Further Provisions and Modifications of the Regulations Applicable with Respect to the Determination of the Value of Dependants
	Schedule 7 Assets to be taken into account only to a specified extent
In force	Schedule 7, Part I
In force	Schedule 7, Part II
In force	Schedule 7, Part III
In force	Schedule 7, Part IV
	Given under
	Explanatory Note

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