Insurance Companies Act 1980
the Insurance Companies Act 1974, and
any other Act to the extent that it amends or extends that Act,
In consequence of section 1 above, the Insurance Companies Act 1974 shall have effect subject to the amendments specified in Part I of Schedule 1 to this Act.
The said Act of 1974 shall have effect subject to the other amendments specified in Part II of the said Schedule 1.
The instruments specified in Part I of Schedule 2 to this Act shall, subject to the modifications thereof specified in Part II of that Schedule, extend to Northern Ireland.
For the purposes of regulation 6 of the Insurance Companies (Solvency: General Business) Regulations 1977 (which is extended to Northern Ireland by subsection (1) above) section 4(2) and (3) of the Prevention of Fraud (Investments) Act 1958 and section 14 of the Administration of Justice Act 1965 shall extend to Northern Ireland with the modification that in section 4(2)(a) of the said Act of 1958 the reference to the trustee in bankruptcy includes a reference to the assignees in bankruptcy.
In consequence of subsection (2) above, the Insurance Companies (Deposits) Regulations 1978 shall extend to Northern Ireland.
The enactments specified in Schedule 3 to this Act shall have effect subject to the amendments there specified, being amendments consequential on the provisions of this Act.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
This Act may be cited as the Insurance Companies Act 1980.
This Act shall come into operation on such day as the Secretary of State may by order made by statutory instrument appoint.
This Act extends to Northern Ireland.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
In section 2—
in subsection (1)—
for " Great Britain " where it first occurs substitute " the United Kingdom ";
insurance business (whether of that class or not)
in paragraph (e) after " 1974) " insert " or, in Northern Ireland, a body which is, or is deemed to be, registered under the Acts relating to trade unions " and for " or association " substitute " , association or body ";
in subsection (2)—
for " Great Britain " substitute " the United Kingdom ";
in paragraph (b) after " 1896 " insert " or the Friendly Societies Act (Northern Ireland) 1970 " and for "that Act" substitute " either of those Acts ".
In section 3—
in subsection (1)—
for " Great Britain " where it first occurs substitute " the United Kingdom " and omit " either ";
after paragraph (a) insert—;
in subsection (2) for " either paragraph " substitute " paragraph (a), (aa) or (b) " and for the words from " in Great Britain " onwards substitute insurance business (whether of that class or not)—.
In sections 4(1)(a), 7(3) and (5) and 8(1) for " Great Britain " wherever it occurs substitute " the United Kingdom- ".
In section 9—
in subsection (1) for " either paragraph " substitute " paragraph (a), (aa) or (b) " and for " Great Britain " substitute " the United Kingdom ";
in subsection (2) for " Great Britain " substitute " the United Kingdom ".
In section 11(4) for " 27th July 1967 " substitute—.
In section 12—
in subsection (1) for " Great Britain " where it twice occurs substitute " the United Kingdom ";
in subsection (3) after " association" where it first occurs insert " or, in Northern Ireland, a body which is, or is deemed to be, registered under the Acts relating to trade unions ".
In section 20—
in subsection (1) omit " (other than one registered in Northern Ireland) " and after " registrar " insert " in the case of a society registered in Great Britain or with the registrar in the case of a society registered in Northern Ireland, ";
in subsection (3) after " Act)" insert " and section 97(1) of the Industrial and Provident Societies Act (Northern Ireland) 1969 (which confers similar regulation making powers on the Department of Commerce for Northern Ireland) " and for " that Act" in the second place where it occurs substitute " that Act of 1965 or, as the case may be, by the registrar under that Act of 1969 ";
in subsection (4) at the end add " and ' registrar' has the meaning given by section 101(1) of the said Act of 1969 ".
In section 21(5) after " companies " insert " or with the registrar of companies in Northern Ireland or with both ".
In section 22(3) after " companies " insert " or with the registrar of companies in Northern Ireland or with both ".
In section 24(4) omit " and " and after " diligence" insert " and a charge imposed by the Enforcement of Judgments Office in Northern Ireland ".
In section 25(3X6) for "and Edinburgh" substitute " , Edinburgh and Belfast ".
In section 26(7)—
for the definition of " company " and " equity share capital" substitute—;
in the definition of " share " at the end add " or the Companies Act (Northern Ireland) 1960 ".
In section 28(2)(a) after " 1948 " insert " or section 210 or 349 of the Companies Act (Northern Ireland) 1960 ".
For section 36(6) substitute—.
In section 40—
in subsection (4) for " and Edinburgh " substitute " , Edinburgh and Belfast ";
in subsection (5)—
in paragraph (a) at the end add " or on the registrar of companies in Northern Ireland or on both " ;
in paragraph (b), omit " (other than one registered in Northern Ireland) " and at the end add " in the case of a society registered in Great Britain or on the registrar as defined by section 101(1) of the Industrial and Provident Societies Act (Northern Ireland) 1969 in the case of a society registered in Northern Ireland " ;
in subsection (6) after " registrar of companies " where it twice occurs insert " or the registrar of companies in Northern Ireland " and after " State " insert " or, in the case of a notice served on the registrar of companies in Northern Ireland, the Department of Commerce for Northern Ireland ";
in subsection (7) after " Act)" insert " and section 97(1) of the said Act of 1969 (which confers similar regulation making powers on the Department of Commerce for Northern Ireland) " and at the end add " or, as the case may be, on the registrar ".
In section 41—
after subsection (1) insert—;
in subsection (2) for " the said section 37(1)" substitute " section 37(1) of the said Act of 1967 or section 163(1) of the said Act of 1960 ".
In section 42—
in subsection (3)—
in paragraph (a), for " and Edinburgh " substitute " , Edinburgh and Belfast ";
in paragraph (d), for " Great Britain " substitute " the United Kingdom ";
in subsection (7) after " 1948 " insert " or section 197 or 199 of the Companies Act (Northern Ireland) 1960 ";
in subsection (8)—
in paragraph (a) for " registered or" substitute " both registered or both ";
for paragraph (b) substitute—;
omit subsection (9);
in subsection (10) for " Great Britain" where it twice occurs substitute " the United Kingdom ".
In section 43—
in subsection (3) after " 1946" insert " and section 75 of the Companies Act (Northern Ireland) 1960 and section 27(4) of the Finance (No. 2) Act (Northern Ireland) 1946 ";
in subsection (5) at the end add "or the Companies Act (Northern Ireland) 1960 ".
In section 44(1) for " Great Britain " substitute " the United Kingdom " and after " 1948 " insert " or sections 210 and 349 of the Companies Act (Northern Ireland) 1960 ".
In section 45 after " 1948 " insert " or, as the case may be, the Companies Act (Northern Ireland) 1960 " and after " that Act" insert " of 1948 or, as the case may be, that Act of 1960 ".
In section 46—
after subsection (1) insert—;
in subsection (2) after " subsection (1) " insert " or (1A) ";
in subsection (3) after " 1948 " insert " or, as the case may be, the said Act of 1960 ".
In section 47—
in subsection (5) after " 1948 " insert " or, as the case may be, paragraphs (1) and (2) of Article 73 of the Companies (Northern Ireland) Order 1978 ";
in subsection (6) after " 1948 " insert " or section 299(1) of the Companies Act (Northern Ireland) 1960 ".
In section 48—
in subsection (4) after " 1948 " insert " or, in the case of a special manager appointed in proceedings in Northern Ireland, subsections (2) and (3) of section 236A of the Companies Act (Northern Ireland) 1960 " and for " that section " substitute " section 263 of the said Act of 1948 or, as the case may be, section 236A of the said Act of 1960 ";
in subsection (7) after " 1948 " insert " or, as the case may be, section 227(1) of the said Act of 1960 ".
In section 51—
in subsection (1) after " 1948 " insert " or section 317 of the Companies Act (Northern Ireland) 1960 ";
in subsection (2)—
for " the said section 365 " substitute " section 365 of the said Act of 1948 or, as the case may be, section 317 of the said Act of 1960 ";
after " 1948" insert " or, as the case may be, section 287 of the said Act of 1960 ".
After section 55 insert—.
In sections 60(2) and 64(2) for "Great Britain" substitute " the United Kingdom ".
In section 68(2)(d) after " companies " insert " or the registrar of companies in Northern Ireland or with both such registrars ".
In section 69 after " 1958 " insert " and section 12(1) of the Prevention of Fraud (Investments) Act (Northern Ireland) 1940 " and after " that Act" insert " of 1958 and section 22(1) of that Act of 1940 ".
In section 75—
in subsection (1) for " Great Britain " substitute " the United Kingdom ";
in subsection (2) after " 1976 " insert " and sections 356, 358 to 364 and 373 of the Companies Act (Northern Ireland) 1960 and Articles 11 to 13 of the Companies (Northern Ireland) Order 1978 ", for " Great Britain " where it first occurs substitute " the United Kingdom ", after "Great Britain" where it occurs in the second place insert " or, as the case may be, Northern Ireland " and at the end add " or, as the case may be, companies to which Part X of the said Act of 1960 applies ".
In section 76(1) after " 1948 " insert " , under the Companies Act (Northern Ireland) 1960 ".
In a case in which an unincorporated body is charged with an offence under this Act— shall have effect
In section 81 for the words from " in England" onwards substitute " be instituted—
in England or Wales, except by or with the consent of the Secretary of State, the Industrial Assurance Commissioner or the Director of Public Prosecutions,
in Northern Ireland, except by or with the consent of the Secretary of State, the Department of Commerce for Northern Ireland or the Director of Public Prosecutions for Northern Ireland ".
In section 82—
after subsection (3) insert—;
in subsection (4) for the words " Secretary of State " there shall be substituted the words " Director of Public Prosecutions for Northern Ireland, the Secretary of State, the Department of Commerce for Northern Ireland " and after the word "his" there shall be inserted the words " , or that Department's, ".
In section 83(1) at the end add " or Articles 2(2) and 3(1) of the Industrial Assurance (Northern Ireland) Order 1979 ".
In section 85—
in subsection (1)—
in the definition of " body corporate ", for " Great Britain " substitute " the United Kingdom ";
in the definition of " court", at the end add " or, in the case of an insurance company registered or having its head office in Northern Ireland, the High Court of Justice in Northern Ireland " ;
after the definition of "director" insert—;
in the definition of " former Companies Acts", after " 1929 " insert " or the Companies Act (Northern Ireland) 1932 " and after " that Act " insert " of 1929 or, as the case may be, that Act of 1932 ";
in the definition of " industrial assurance business " at the end add " or Articles 2(2) and 3(1) of the Industrial Assurance (Northern Ireland) Order 1979 " ;
in the definition of " insolvent ", after " 1948 " insert " or, as the case may be " sections 210 and 211 or section 349 of the Companies Act (Northern Ireland) 1960";
in the definition of " registered society" for the words from " or any " onwards substitute " or the Industrial and Provident Societies Act (Northern Ireland) 1969 ";
in the definition of " registrar of companies ", at the end add " and ' registrar of companies in Northern Ireland ' means the registrar of companies within the meaning of section 399(1) of the Companies Act (Northern Ireland) 1960 ";
in the definition of " subsidiary " at the end add " or section 148 of the Companies Act (Northern Ireland) 1960 " ;
in subsection (2) at the end add " or section 14(1) of the Insurance Companies Act (Northern Ireland) 1968 " ;
after subsection (4) insert—.
In section 89—
in subsection (2) after " made " insert " under section 365 of the Companies Act 1948 ";
in subsection (6) for " under the said section 30(5) or under " substitute " made under section 365 of the said Act of 1948 by virtue of the said section 30(5) or ".
In section 90(3) omit " not ".
In section 72—
for subsection (2) substitute—;
in subsection (3) for " which relates to industrial assurance business " substitute " mentioned in subsection (2) above " and at the end add " and the Commissioner for Northern Ireland " ;
omit subsections (4), (7) and (8) ;
in subsections (5), (6) and (9) after " Commissioner " insert " and the Commissioner for Northern Ireland " ;
in subsection (10) for " before 1st January 1924 " substitute "in Great Britain before 1st January 1924 or in Northern Ireland before 1st January 1925 ".
The Assurance Companies Rules 1950 (S.I. 1950/533). The Insurance Companies (Contents of Advertisements) Regulations 1974 (S.I. 1974/901). The Insurance Companies (Contents of Advertisements) (Amendment) Regulations 1974 (S.I. 1974/1052). The Insurance Companies (Linked Properties and Indices) Regulations 1975 (S.I. 1975/929). The Insurance Companies (Valuation of Assets) Regulations 1976 (S.I. 1976/87). The Insurance Companies (Intermediaries) Regulations 1976 (S.I. 1976/521). The Insurance Companies (Valuation of Assets) (Amendment) Regulations 1976 (S.I. 1976/2039). The Insurance Companies (Changes of Director, Controller or Manager) Regulations 1978 (S.I. 1978/722). The Insurance Companies (Notice of Long-Term Policy) Regulations 1978 (S.I. 1978/1304). The Insurance Companies (Valuation of Assets) (Amendment) Regulations 1980 (S.I. 1980/5).
In regulation 1 of the Insurance Companies (Accounts and Forms) Regulations 1968 for the words " the Insurance Companies Act 1958 as so amended " there shall be substituted the words " Part II of the Insurance Companies Act 1974 " and for the words from " Great Britain " onwards there shall be substituted the words " the United Kingdom no insurance business other than industrial assurance business ".
In regulation 2(2) of the said Regulations of 1968 after " 1967 " there shall be inserted the words " or sections 187 and 188 of the Companies Act (Northern Ireland) 1960 and Articles 14 to 20 of the Companies (Northern Ireland) Order 1978 " and after " 1948 " in the second place where it occurs there shall be inserted the words " or, as the case may be, the Companies Act (Northern Ireland) 1960 ".
In regulation 18(1) of the said Regulations of 1968—
after the definition of " accounts " there shall be inserted the following definition—;
at the end of the definitions of "authorised unit trust scheme " and " unit trust scheme " there shall be added the words " or the Prevention of Fraud (Investments) Act (Northern Ireland) 1940 ";
in the definition of " capital redemption contracts " for the words " section 59(6)(c) of the Companies Act 1967 " there shall be substituted the words " section 83(2Xc) of the Insurance Companies Act 1974 ";
in the definition of " company" for the words from " the Act" onwards there shall be substituted the words " these Regulations apply ";
in the definition of " equity share capital" for the words from "has " to " 1948 " there shall be substituted the words " , in relation to a company, means its issued share capital excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution ";
in the definition of " long-term personal accident contracts " for the words " section 59(6)(b) of the Companies Act 1967 " there shall be substituted the words " section 83(2)(b) of the Insurance Companies Act 1974 ";
in the definition of " quoted investment" for the words from "has" to " 1948" there shall be substituted the words " means an investment as respects which there has been granted a quotation or permission to deal on a recognised stock exchange, or on any stock exchange of repute outside the United Kingdom ";
at the end of the definition of " subsidiary " there shall be added the words " or section 148 of the Companies Act (Northern Ireland) 1960 ".
In paragraph 5 of Schedule 5 to the said Regulations of 1968 after " 1929" there shall be inserted the words " or under the Industrial Assurance (Northern Ireland) Order 1979 ".
In regulation 1(1) of the Industrial Assurance (Companies Forms, etc.) Regulations 1968 at the end of the definition of " collecting society " there shall be added the words " or Article 2(2) of the Industrial Assurance (Northern Ireland) Order 1979 ".
In regulation 5 of the said Regulations of 1968 after the words " that class " there shall be inserted the words " in respect of such business carried on in Great Britain and such a statement in respect of such business carried on in Northern Ireland ".
In regulation 7 of the said Regulations of 1968 after " 1923 " there shall be inserted the words " or Schedule 5 to the Industrial Assurance (Northern Ireland) Order 1979 ".
In regulation 2 of the Insurance Companies (Contents of Advertisements) Regulation 1974 for the words from “Great Britain” onwards there shall be substituted the words “the United Kingdom”.
In regulation 4(2) of the said Regulations of 1974 at the end there shall be added the words “with the addition, in subsection (9) of that section of a reference to a scheme made under section 25 of the Charities Act (Northern Ireland) 1964 and to an authorised unit trust scheme within the meaning of the Prevention of Fraud (Investment) Act (Northern Ireland) 1940”.
In regulation 5 of the said Regulations of 1974 for the words “the Insurance Companies Act 1958” there shall be substituted the words “Part II of the Insurance Companies Act 1974”.
In regulation 2 of the Insurance Companies (Contents of Advertisements) (Amendment) Regulation 1974 for the words from “Great Britain” onwards there shall be substituted the words “the United Kingdom otherwise than by virtue of an authorisation to do so by or under section 3 of the Insurance Companies Act 1974”.
In regulation 2 of the Insurance Companies (Valuation of Assets) Regulations 1976 — in the definition of “approved financial institution”— in the definition of “equity share capital” from the words from “has” to “1948” there shall be substituted the words “, in relation to a company, means its issued share capital excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution” ; in the definition of “holding company” at the end there shall be added the words “or section 148 of the Companies Act (Northern Ireland) 1960”; in the definition of “quoted”—
in the definition of " approved financial institution "—
in sub-paragraph (c) for the words " Trustee Savings Bank Act 1969 " there shall be substituted the words " Trustee Savings Banks Act 1976 ";
in sub-paragraph (d) at the end there shall be added the words " or paragraph 23 of the Sixth Schedule to the Companies Act (Northern Ireland) 1960 ";
in the definition of "equity share capital" for the words from " has" to " 1948" there shall be substituted the words ", in relation to a company, means its issued share capital excluding any part thereof which, neither as respects dividends nor as respects capital, carries any right to participate beyond a specified amount in a distribution ;
in the definition of " holding company " at the end there shall be added the words " or section 148 of the Companies Act (Northern Ireland) 1960 ";
in the definition of " quoted "—
in sub-paragraph (a) at the end there shall be added the words " or the Companies Act (Northern Ireland) 1960 ";
in sub-paragraphs (b) and (c) for the words " Great Britain " there shall be substituted the words " the United Kingdom ".
In regulation 3 of the Insurance Companies (Intermediaries) Regulations 1976— in paragraph (1)(e) after “1948” there shall be inserted the words “or section 144 of the Companies Act (Northern Ireland) 1960” ; in paragraph (4) after “1948” there shall be inserted the words “or section 148 of the Companies Act (Northern Ireland) 1960”.
in paragraph (1)(e) after " 1948 " there shall be inserted the words " or section 144 of the Companies Act (Northern Ireland) 1960 ";
in paragraph (4) after " 1948 " there shall be inserted the words " or section 148 of the Companies Act (Northern Ireland) 1960 ".
Regulation 7(1)(f) of the said regulations of 1976 shall be omitted.
in sub-paragraph (a) at the end there shall be inserted the words " or sections 77(1)(a) and 86 of the Road Traffic Act (Northern Ireland) 1970 ";
in sub-paragraph (c) at the end there shall be inserted the words " or Article 5(3)(6) of the Employer's Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 ".
In the Schedule to the Insurance Companies (Changes of Director, Controller or Manager) Regulations 1978 — in Forms A, B and C for the words “Great Britain” wherever they occur there shall be substituted the words “the United Kingdom” ; in item 12 of Form A and item 12 of Form B after “1948” there shall be inserted the words “or section 148 of the Companies Act (Northern Ireland) 1960” ; in item 8 of Form C after “1948” in the first place where it occurs there shall be inserted “or section 355 of the Companies Act (Northern Ireland) 1960” ; after the words “address(es) of” there shall be inserted the word “any” and after “1948” in the second place where it occurs there shall be inserted the words “or under Part X of the Companies Act (Northern Ireland) Act 1960”.
in Forms A, B and C for the words " Great Britain" wherever they occur there shall be substituted the words " the United Kingdom ";
in item 12 of Form A and item 12 of Form B after " 1948 " there shall be inserted the words " or section 148 of the Companies Act (Northern Ireland) 1960 ";
in item 8 of Form C after " 1948 " in the first place where it occurs there shall be inserted " or section 355 of the Companies Act (Northern Ireland) 1960 "; after the words " address(es) of " there shall be inserted the word " any " and after " 1948 " in the second place where it occurs there shall be inserted the words " or under Part X of the Companies Act (Northern Ireland) 1960 ".
Section 4(1)
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
In section 86 of the Road Traffic Act (Northern Ireland) 1970 for " Insurance Companies Act (Northern Ireland) 1968 " substitute " Insurance Companies Act 1974 ".
In Article 5(3)(6) of the Employer's Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 for " Insurance Companies Act (Northern Ireland) Order 1968 " substitute " Insurance Companies Act 1974 ".
In section 3(2) of the Policyholders Protection Act 1975 for the words from “Great Britain” onwards substitute “ the United Kingdom ”.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
for "Article 40 of the Insurance Companies (Northern Ireland) Order 1976 " substitute " section 36 of the Insurance Companies Act 1974 ";
in sub-paragraph (a) for " Insurance Companies (Northern Ireland) Order 1976 " substitute " Insurance Companies Act 1974 ";
for sub-paragraph (c) substitute—.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
In Article 3(4) of the said Order of 1979— . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . for “Northern Ireland” substitute “ the United Kingdom ” ; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
for " Order and in particular to Article 6(2) of that Order " substitute " Act 1974 and in particular to section 2(2) of that Act ";
for " Northern Ireland " substitute " the United Kingdom ";
for " Article 7 of that Order" substitute " section 3 of that Act ".
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
In Article 32(1)(b) of the said Order of 1979 for “Insurance Companies Order” substitute “ Insurance Companies Act 1974 ”.
In Article 40 of the said Order of 1979— for the words from the beginning to “Order” substitute “ Sections 42 and 43 of the Insurance Companies Act 1974 ” ; for “Article 83(5)” substitute “ section 72(6) ”.
for the words from the beginning to " Order " substitute " Sections 42 and 43 of the Insurance Companies Act 1974 " ;
for " Article 83(5) " substitute " section 72(6) ".
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
In Schedule 5 to the said Order of 1979— in paragraph 1 for “Article 2(2) of the Insurance Companies Order” substitute “ section 85(1) of the Insurance Companies Act 1974 ”; in paragraph 6 for “Order” substitute “ Act 1974 ”.
in paragraph 1 for " Article 2(2) of the Insurance Companies Order" substitute " section 85(1) of the Insurance Companies Act 1974 ";
in paragraph 6 for " Order " substitute " Act 1974 ".
In this Schedule—
“the Department” means the Department of Economic Development for Northern Ireland.
“the appointed day” means the day appointed under section 5(2) of this Act for the coming into operation of this Act;
" the Department" means the Department of Commerce for Northern Ireland.
Any thing done (including any instrument or document made, issued, confirmed or granted and any decision, authorisation, direction, consent, application, request or thing made, issued, given or done) under the Insurance Companies Act 1974 or the instruments specified in section 3(3) of this Act or in Part I of Schedule 2 to this Act shall in so far as it had effect immediately before the appointed day have effect on or after that day in relation to Northern Ireland as if that Act or those instruments extended to Northern Ireland at the time when that thing was done and that thing was done in relation to Northern Ireland as well as Great Britain.
Articles 17 to 26 and 66 of the Insurance Companies (Northern Ireland) Order 1976 and regulations made under those Articles or Article 55(5) of that Order (preparation and submission to the Department of accounts and returns and other documents) shall continue to have effect after the appointed day in respect of any financial year ending on or before the day immediately preceding the appointed day and Article 72 of that Order (offences) shall also continue to have effect accordingly.
Where it appears to the Secretary of State that before the appointed day an insurance company has failed to comply with the obligations referred to in sub-paragraph (b) of Article 32(1) of the said Order of 1976, the Secretary of State may exercise the powers under paragraph (b) of section 28(1) of the said Act of 1974 as if the failure had been a failure to comply with the obligations referred to in that paragraph.
Where it appears to the Secretary of State that an insurance company has furnished misleading or inaccurate information to the Department as referred to in sub-paragraph (c) of Article 32(1) of the said Order of 1976, the Secretary of State may exercise the powers under paragraph (c) of section 28(1) of the said Act of 1974 as if the misleading or inaccurate information furnished had been furnished as referred to in that paragraph.
Any requirement imposed by the Department under Articles 33 to 41 of the said Order of 1976 which is in force immediately before the appointed day shall be deemed to have been imposed by the Secretary of State under sections 29 to 37 of the said Act of 1974 and may on or after that day be varied or rescinded by him under section 40 of the said Act of 1974.
Any notice issued by the Department under Article 44 or 45 of the said Order of 1976 which is in force immediately before the appointed day shall be deemed to have been issued by the Secretary of State under sections 38 and 39 of the said Act of 1974.
Articles 19(2) and 65(2) of the said Order of 1976 (duty to notify changes of appointed actuaries or of directors, controllers or managers) shall continue to have effect after the appointed day in respect of any changes which take place before that day.
Articles 67 to 70 of the said Order of 1976 (power to make certain orders and to alter financial year) and orders made under those Articles which are in force immediately before the appointed day shall continue to have effect after that day in respect of any financial year ending on or before the day immediately preceding the appointed day.
Articles 83 to 87 of the said Order of 1976 and regulations made under those Articles (industrial assurance business, Lloyd’s, unregistered companies) shall continue to have effect after the appointed day in respect of the business carried on in, and the returns relating to, any financial year ending on or before the day immediately preceding the appointed day.
Any asset valuation regulations made under Article 88 of the said Order of 1976 shall continue to have effect after the appointed day in relation to any valuation required to be made in respect of periods before that day.
Articles 89 to 92 of the said Order of 1976 (criminal proceedings) shall apply to proceedings under the said Order whether instituted before, on or after the appointed day.
Article 94 of the said Order of 1976 (annual report) shall continue to have effect as long as the Department exercises any functions under the said Order.
In so far as any power or duty conferred or imposed under any provision of the said Order of 1976 can be performed under a corresponding provision of the said Act of 1974 after the appointed day, all information obtained or provided under or for the purposes of any provision of the said Order shall be deemed to have been obtained or provided under or for the purposes of that corresponding provision.
The repeal of section 44(2) and (3) of, and Schedules 3 and 4 to, the Insurance Companies Act (Northern Ireland) 1968 (which by virtue of Article 96(6) of the said Order of 1976 is not to take effect until the first rules under Article 62(2) of the said Order come into operation) shall not take effect until the first rules made under section 317 of the Companies Act (Northern Ireland) 1960 by virtue of section 51(2) of the said Act of 1974 come into operation.
The provisions of the Act of 1974, so far as extended to Northern Ireland in substitution for provisions of the said Order of 1976 relating to winding up, shall not affect any winding up commenced before the date on which the first rules made under section 317 of the Companies Act (Northern Ireland) 1960 by virtue of section 51(2) of the said Act of 1974 come into operation.
Without prejudice to section 4(1) of this Act, any enactment or document whatsoever referring to any enactment repealed by this Act shall be construed as referring (or including a reference) to the corresponding enactment in the said Act of 1974.
in paragraph 21(a) for the reference to Article 25 of that Order there shall be substituted a reference to sections 141 and 297 of the Companies Act (Northern Ireland) 1960;
in paragraph 25 for the reference to Article 3 or 11 of that Order there shall be substituted a reference to section 122, 142 or 359 of that Act;
in paragraph 29 for the reference to Articles 11 to 13 of that Order there shall be substituted a reference to sections 359 and 363 of that Act.
Nothing in this Schedule shall be taken as prejudicing the operation of section 16(1) of the Interpretation Act 1978 (which relates to repeals).
.................................................................................................................................
.................................................................................................................................