Statutory Instrument 1993 No. 946

The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1993

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© Crown Copyright 1993

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1993 No. 946

INSURANCE

The Insurance Companies (Accounts and Statements) (Amendment) Regulations 1993

The Secretary of State, in exercise of his powers under sections 17(3), 96(1) and 97 of the Insurance Companies Act 1982^[1] and of all other powers enabling him in that behalf, hereby makes the following Regulations:—

    1.    These Regulations may be cited as the Insurance Companies (Accounts and Statements) (Amendment) Regulations 1993 and shall come into force on 1st January 1994.

    2.—(1)  The Insurance Companies (Accounts and Statements) Regulations 1983^[2] shall be amended as follows—

    (2)  In Part II of Schedule 6 (certificate by appointed actuary), in paragraph 9(a), after sub-paragraph (iii) insert—
"(iv) that the guidance notes "Actuaries and Long-Term Insurance Business (GN1)" and "Additional Guidance for Appointed Actuaries (GN8)", issued by the Institute of Actuaries and the Faculty of Actuaries and dated July 1992, have been complied with; and"

N. Hamilton

Parliamentary Under-Secretary of State, Department of Trade and Industry

27th March 1993

The Regulations amend the Insurance Companies (Accounts and Statements)

Regulations 1983 by providing that the certificate signed by the appointed actuary and annexed to the documents deposited with the Secretary of State under section 22(1) of the Insurance Companies Act 1982, by companies which carry on long term business, shall contain a statement that (if such be the case) the professional guidance notes "Actuaries and Long-Term Insurance Business (GN1)" and "Additional Guidance for Appointed Actuaries (GN8)", issued by the Institute of Actuaries and the Faculty of Actuaries and dated July 1992, have been complied with. The guidance notes may be obtained by writing to—

Institute of Actuaries
Staple Inn Hall
High Holborn
London WC1V 7QJ

or

Faculty of Actuaries
23 St Andrew's Square
Edinburgh EH2 1AQ

[1] 1982 c. 50. back

[2] S.I. 1983/1811 to which there have been amendments not relevant to these Regulations. back