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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 August 2004 - onwards
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Regulation 38 Provisions applying in the case of revocation.

(1) On revoking an authorisation under Article 37, the Bank shall—

(a) inform the supervisory authorities of the other Member States in which the undertaking carries on business, and

(b) after consulting those authorities, give to the undertaking a direction in writing restricting the free disposal by the undertaking of its assets in accordance with Articles 36(1), 36(3) and 36(4).

(2) The Bank may impose such further measures as it considers necessary to safeguard the interests of persons insured by the insurance undertaking.

(3) The following decisions of the Bank are appealable decisions for the purposes of Part VIIA of the Central Bank Act 1942:

(a) a decision revoking the authorisation of an insurance undertaking under Article 37;

(b) a direction or measure given or imposed under this Article.

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