Insurance Companies Act 1981 (repealed)

• Citation: 1981 c. 31
• Sections: 10

Section 36 Minor and consequential amendments and repeals.

(1) Schedule 4 to this Act shall have effect.

(2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Section 38 Short title and extent.

(1) This Act may be cited as the Insurance Companies Act 1981.

(2) This Act extends to Northern Ireland.

Section 17

In section 20(2) of the Insurance Companies Act 1958 for the words “the amount required by section 44 of the Insurance Companies Act 1974” there shall be substituted the words “£50,000”.

Section 19

In section 1(3)(b) of the Employers’ Liability (Compulsory Insurance) Act 1969 for the words from “Great Britain” to “1974” there shall be substituted the words “the United Kingdom insurance business of a class specified in Schedule 1 or 2 to the Insurance Companies Act 1981”.

Section 21

In Article 5(3)(b) of the Employer’s Liability (Defective Equipment and Compulsory Insurance) (Northern Ireland) Order 1972 for the words from “Northern Ireland” to “1974” there shall be substituted the words “the United Kingdom insurance business of a class specified in Schedule 1 or 2 to the Insurance Companies Act 1981”.

Section 23

In section 87(1) of the Solicitors Act 1974—

(a) for the definition of “liability insurance business” there shall be substituted—

“ liability insurance business ” means insurance business within class 13 in Schedule 2 to the Insurance Companies Act 1981

and

(b) for the definition of “pecuniary loss insurance business” there shall be substituted—

“ pecuniary loss insurance business ” means insurance business within class 1, 2, 14, 15, 16 or 17 in Schedule 2 to the Insurance Companies Act 1981

Section 25

(1) The Policyholders Protection Act 1975, shall be amended as follows.

(2) In section 3(2) for the words from “permitted” to “1974” there shall be substituted the words “authorised under section 3 or 4 of the Insurance Companies Act 1981”.

(3) In section 8(4), for the words from “not being” to the end there shall be substituted the words “other than class 5, 6, 7, 11 or 12, not being a contract of reinsurance”.

(4) In subsections (1) and (3) of section 28 after the words “Insurance Companies Act 1974” there shall be inserted the words “the Insurance Companies Act 1981”.

(5) In section 29 after the words “Insurance Companies Act 1974” there shall be inserted the words “or the Insurance Companies Act 1981”; and at the end there shall be added the words “or the said Act of 1981”.

Section 26

In section 29(1) of the Insurance Brokers (Registration) Act 1977—

(a) in the definition of “authorised insurers” for the words “liability insurance business or pecuniary loss insurance business” there shall be substituted the words “insurance business of class 13 or of classes 1, 2, 14, 15, 16 and 17 in Schedule 2 to the Insurance Companies Act 1981”; and

(b) in the definition of “insurance business” for the words from “of any” to “assurance business” there shall be substituted the words “other than industrial assurance business (within the meaning of section 1(2) of the Industrial Assurance Act 1923 or Articles 2(2) and 3(1) of the Industrial Assurance (Northern Ireland) Order 1979).”

Section 28

In Article 3(4) of the Industrial Assurance (Northern Ireland) Order 1979—

(a) for the words “Act 1974 and in particular to section 2(2) of that Act” there shall be substituted the words “Acts 1974 and 1981 and in particular to sections 2(3) and 3(2) of that Act of 1981”;

(b) for the words “section 3 of that Act” there shall be substituted the words “section 3 of that Act of 1981”.

Section 29

In Article 101(1) of the Road Traffic (Northern Ireland) Order 1981—

(a) for the words “in Northern Ireland a motor vehicle insurance business” there shall be substituted the words “insurance business within group 2 in Part II of Schedule 2 to the Insurance Companies Act 1981” and

(b) for “1974” there shall be substituted “1981”.