European Communities (Swiss Confederation Agreement) Regulations, 1996.

• Date: 08 February 1996
• Statutory Instrument No.: 25/1996

S.I. No. 25 of 1996.

EUROPEAN COMMUNITIES (SWISS CONFEDERATION AGREEMENT) REGULATIONS, 1996.

I, RICHARD BRUTON, Minister for Enterprise and Employment, in exercise of the powers conferred on me by section 3 of the European Communities Act, 1972 (No. 27 of 1972) as amended by the European Communities (Amendment) Act, 1993 (No. 30 of 1993), and for the purpose of giving effect to Council Directive 91/371/EEC of 20 June 1991(1) hereby make the following Regulations:

(1)O.J. No. L205, 27—–7—–1991, p.48. 1. These Regulations may be cited as the European Communities (Swiss Confederation Agreement) Regulations, 1996, and shall come into operation on 8 February, 1996. 2. In these Regulations—

"the Swiss Confederation Agreement" means the Agreement between the European Communities and the Swiss Confederation on direct insurance other than life assurance signed at Luxembourg on 10 October 1989;

"the Insurance Regulations" means the Insurance Acts, 1909 to 1990, Regulations relating to insurance business made under those Acts and Regulations made under the European Communities Act, 1972 , as amended by the European Communities (Amendment) Act, 1993 , including these Regulations. 3. The Insurance Regulations shall be construed, from the coming into force of the Swiss Agreement, with reference to the provisions of that Agreement and the acts to be adopted by institutions established by that Agreement. 4. In relation to Regulations made under the European Communities Act, 1972 , as amended by the European Communities (Amendment) Act, 1993 , the specific provisions of those Regulations which are subject to the Swiss Agreement are enumerated in the Table to this Article.

Table

Title Articles European Communities (Non-Life Insurance) Regulations, 1976 ( S.I. No. 115 of 1976 ) 1 — 33 inclusive European Communities (Non-Life Insurance) (Amendment) Regulations, 1986 ( S.I. No. 309 of 1986 ) 1 — 13 inclusive European Communities (Non-Life Insurance) (Amendment) Regulations, 1991 ( S.I. No. 5 of 1991 ) 1 — 7 inclusive European Communities (Non-Life Insurance (No. 2) Regulations, 1991 ( S.I. No. 142 of 1991 ) 1 — 6 (1) inclusive, 7 — 9 inclusive and 10 insofar as it relates to Article 22 (1) to 22 (4) of S.I. No. 115 of 1976 as inserted by Article 10 of S.I. No. 142 of 1991 European Communities (Non-Life Insurance) (Legal Expenses) Regulations, 1991 ( S.I. No. 197 of 1991 ) 1 — 11 inclusive European Communities (Non-Life Insurance) (Amendment) Regulations, 1992 ( S.I. No. 244 of 1992 ) 4 and 14 5. The Swiss Agreement is set out in the Schedule to these Regulations.

SCHEDULE

Official Journal of the European Communities

COUNCIL DIRECTIVE

of 20 JUNE 1991

on the implementation of the Agreement between the European Economic Community and the Swiss Confederation concerning direct insurance other than life assurance

(91/311/EEC)

THE COUNCIL OF THE EUROPEAN COMMUNITIES,

Having regard to the Treaty establishing the European Economic Community, and in particular the last sentence of Article 57 (2) and Article 235 thereof,

Having regard to the proposal from the Commission (1)

(1)O.J. No. C53, 5—–3–1990, p45.

In co-operation with the European Parliament(2),

(2)O.J. No. C72, 18—–3–1991, p.175, and Decision of 12 June 1991 (not yet published in the Official Journal).

Having regard to the opinion of the Economic and Social Committee(3);

(3)O.J. No. C56, 7—–3–1990, p.27.

Whereas an Agreement between the European Economic Community and the Swiss Confederation concerning direct insurance other than life assurance was signed at Luxembourg on 10 October 1989;

Whereas one of the effects of that Agreement is to impose, in relation to insurance undertakings which have their head offices in Switzerland, legal rules different from those applicable, under Title III of Council Directive 73/239/EEC of 24 July 1973 on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance(4), to agencies and branches established within the Community of undertakings whose head offices are outside the Community;

(4)O.J. No. L228, 16—–8–1973, p.3.

Whereas the co-ordinated rules relating to the pursuit of these activities within the Community by the Swiss undertakings subject to the provisions of the said Agreement must take effect on the same date in all the Member States of the Community; whereas that Agreement will not come into force until the first day of the calendar year following the date on which the instruments of approval are exchanged,

HAD ADOPTED THIS DIRECTIVE:

Article 1

The Member States shall amend their national provisions to comply with the Agreement between the European Economic Community and the Swiss Confederation within a period of 24 months following the notification of this Directive. They shall immediately inform the Commission thereof.

When Member States adopt these measures, they shall contain a reference to this Directive or shall be accompanied by such reference on the occasion of their official publication. The method of making such a reference shall be laid down by the Member States.

Article 2

The Member States shall specify in their national provisions that the amendments thereto made pursuant to the Agreement shall not come into force until the date on which the agreement enters into force.

Article 3

This Directive is addressed to the Member States.

Done at Luxembourg, 20 June 1991.

For the Council,

The President,

R. GOEBBELS.

AGREEMENT

between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance

CONTENTS

of the Agreement between the European Economic Community and the Swiss Confederation on direct insurance other than life assurance

1. Principal agreement Preamble Section I: Basic provisions (Articles 1 to 6) Section II: Conditions governing admission (Articles 7 to 14) Section III: Conditions governing the pursuit of business (Articles 15 to 26) Section IV: Withdrawal of authorisation (Articles 27 to 29) Section V: Collaboration between supervisory authorities (Articles 30 to 33) Section VI: General and final provisions (Articles 34 to 44) Signature 2. Annex No. 1: Classes of insurance subject to the Agreement 3. Annex No. 2: Kinds of insurance, operations and undertakings not subject to the Agreement 4. Annex No. 3: Listing of acceptable legal forms 5. Annex No. 4: Particular provisions for certain Member States of the Community 6. Annex No. 5: Methods of calculating the equalisation reserve for the credit insurance class and conditions governing exemption from the obligation to set up such a reserve 7. Protocol No. 1: Solvency margin 8. Protocol No. 2: Scheme of operations 9. Protocol No. 3: Relationship between the ECU and the Swiss franc 10. Protocol No. 4: Agencies and branches of undertakings whose head office is situated outside the territories to which this Agreement applies 11. Exchange of Letters No. 1: Principle of non-discrimination 12. Exchange of Letters No. 2: Scope of authorisation 13. Exchange of Letters No. 3: Authorised agent 14. Exchange of Letters No. 4: Assignment to the Swiss Securities Fund of immovable property directly owned by insurance undertakings 15. Exchange of Letters No. 5: Principles governing investment 16. Exchange of Letters No. 6: Swiss list of classes of insurance 17. Exchange of Letters No. 7: The capital of insurance undertakings 18. Exchange of Letters No. 8: Transitional arrangements for assistance 19. Exchange of Letters No. 9: Transitional arrangements for the large risks referred to in paragraph 2.1 of Protocol No. 2. 20. Joint Declaration by the Contracting Parties concerning the period between the date of signature and the date of entry into force of the Agreement 21. Final Act

PREAMBLE

THE EUROPEAN ECONOMIC COMMUNITY

of the one part

THE SWISS CONFEDERATION

of the other part

CONSIDERING the close relations which exist between Switzerland and the Community;

DESIRING to avail themselves of the occasion offered by the establishment of a unified Community insurance market to consolidate existing economic relations between the two Parties in this field, and to promote, under fair conditions of competition, the harmonious development of these relations by ensuring protection for insured persons;

RESOLVED to that end to remove obstacles to the taking-up and pursuit of the business of direct insurance, other than life assurance, on a reciprocal and non-discriminatory basis safeguarded by the necessary legal conditions in respect of supervision, and thus to introduce between themselves freedom of establishment in this field;

EMPHASISING that this in no way affects their powers to legislate subject to limits set by public international law;

ENDEAVOURING to do everything in their power to see that their domestic legal orders in this field evolve in a mutually compatible manner;

OBSERVING that it is in the interest of their economies to develop and strengthen their relations in this way in a field which up to now has not been governed by contractual rules, and to contribute thus to the co-ordination of economic law between the two Parties;

DECLARE themselves ready to consider in the light of any relevant factor, and particularly of the evolution of Community insurance law, the possibility of concluding other agreements in respect of private insurance;

HAVE AGREED in pursuit of these aims to conclude the present Agreement and to this end have designated as their...