European Communities (Non-Life Insurance) (Amendment) Regulations, 1986

• Jurisdiction: Ireland
• Year: 1986
• Citation: IR SI 309/1986

S.I. No. 309 of 1986.

EUROPEAN COMMUNITIES (NON-LIFE INSURANCE) (AMENDMENT) REGULATIONS, 1986.

I, MICHAEL NOONAN, Minister for Industry and Commerce, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972), and the Industry, Trade, Commerce and Tourism (Alteration of Name of Department and Title of Minister) Order, 1986 ( S.I. No. 41 of 1986 ), and for the purpose of giving effect to Council Directive 84/641/EEC of 10th December 19841, hereby make the following Regulations:

1O.J. No. L339, 27.12.84, pp. 21-25. 1. These Regulations may be cited as the European Communities (non-Life insurance) (Amendment) Regulations, 1986 and shall come into operation on the 1st day of January, 1987. 2. In these Regulations unless otherwise stated, — "assistance" has the meaning ascribed to it in Article 11 of these Regulations;

the definition of "the directive" in Article 2(1) of the Principal Regulations shall be construed and have effect as if the reference therein to Council Directive 73/239/EEC2 were a reference to that Directive as amended by Council Directive 84/641/EEC1;

1O.J. No. L339, 27.12.84, pp. 21-25.

2O.J. No. L228, 16.8.73, pp. 3-19.

"the Principal Regulations" means the European communities (Non-Life insurance) Regulations, 1976 ( S.I. No. 115 of 1976 ). 3. Article 3 of the Principal Regulations is hereby amended—

(a) by the substitution for paragraph (c) of subarticle (2) of the following paragraph:

"(c) mutual associations and other organisations excluded from the application of the Directive by Article 3 thereof,", and

(b) by the insertion after paragraph (d) of subarticle (2) of the following paragraph:

"(e) the kinds of assistance activity specified in paragraph 3 of Article 2 of the Directive.". 4. Article 10 of the Principal Regulations is hereby amended—

(a) by the insertion after subarticle (1)(d) of the following:

"(e) if an undertaking referred to in Article 18A of these Regulations has a form different to those referred to in sub-article (a) above, it may continue to use that form until the 12th day of December, 1987.",

(b) by the insertion after subarticle (2) of the following:

"(2A) Undertakings referred to in Article 18A of these Regulations which wish to extend their business within the meaning of Articles 8(2) and 10 of the directive may not do so unless they comply immediately with the appropriate requirements of these Regulations.". 5. The Principal Regulations are hereby amended by the substitution of the following Article for Article 13.

"13. The Minister shall provide the supervisory authority of another member State with such information as is necessary for the purpose of verifying the solvency margin of an undertaking having a branch or agency in the State and its head office in that other member State including such relevant details as may be in his possession for the purpose of supervising the resources available to those undertakings for carrying out the assistance operations they have undertaken to perform." 6. The Principal Regulations are hereby amended by the insertion in Article 16(5)(b)(i) after the word "aggregated" of the following:

": in the case of risks listed in Section A of the Annex at reference number 18, the amount of such claims shall be the costs borne by the undertaking in respect of assistance given;". 7. The Principal Regulations are hereby amended by the insertion after Article 18 of the following Article:

"18A.(1) Subject to subarticle (2) of this Article, an undertaking solely carrying on assistance business in the State at the commencement of the European Communities (Non-Life Insurance) (Amendment) Regulations, 1986, shall comply with the provisions of Articles 16 and 17 of the Directive not later than the 12th day of December, 1989.

(2) Where an undertaking referred to in subarticle (1) of this Article has not by the date specified in that subarticle fully established the required solvency margin, the Minister may allow the undertaking a further period not exceeding two years in which to do so if the undertaking has submitted to the Minister a plan to his satisfaction for the restoration or establishment of the required solvency margin.". 8. Article 19(3)(b) of the principal Regulations is hereby amended by the substitution of ", 16 or 18" for "or 16." 9. The Principal Regulations are hereby amended by the substitution of the following Article for Article 31:

"31. (1) Articles 15, 20, 22 and 23 of these Regulations shall apply to an undertaking to which this Article applies.

(2) However, in the case of an undertaking which has, in accordance with Article 32 of these Regulations, availed itself of the advantages specified in Article 26 of the Directive, the references in Articles 15(a), 20(4), 23(3) and 23(4) to another member State shall be construed as references to the member State which has been selected to supervise the solvency of the entire business of the agencies or branches established within the Community.". 10. The Principal Regulations are hereby amended by the substitution of the...