UK Statutory Instrument SI 1995/3237 United Kingdom

The Insurance Companies (Overseas Life Assurance Business) (Compliance) Regulations 1995

Read it on legislation.gov.uk (opens in a new tab)
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Trader12

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Trader — also bound by 825 other Acts
Companies Act 2006 243 duties
Companies Act 1985 85 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.005 Business other than reinsurance business effected by a company resident in the United Kingdom outside the United Kingdom Regulated
  • Complete certificates for overseas life assurance business within 3 monthsTrader
s.006 Business other than reinsurance business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company — policies or contracts made before 1st January 1996 Regulated
  • Complete certificate and declaration for pre-1996 overseas life assurance businessTrader
s.007 Business other than reinsurance business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company — policies or contracts made on or after 1st January 1996 Regulated
  • Obtain policyholder documents to classify overseas life assurance businessTrader
s.008 Certain business other than reinsurance business where the company comes into possession of additional information Regulated
  • Obtain prescribed documents from policyholder within six months of learning of ownership changeTrader
s.009 Reinsurance of business effected by a company resident in the United Kingdom outside the United Kingdom Regulated
  • Obtain certificate and undertaking from cedant for overseas life assurance reinsuranceTrader
s.010 Reinsurance of business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company Regulated
  • Obtain reinsurance certificate and undertaking from cedant companyTrader
s.011 Certain reinsurance business where the company comes into possession of additional information Regulated
  • Obtain certificate and undertaking from cedant when policyholder changesTrader
s.017 Business other than reinsurance business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company Regulated
  • Obtain residency certificates from trustees or policyholders within 6 months of a specified eventTrader
s.018 Reclassification of policy or contract from date when it was effected Regulated
  • Reclassify improperly treated policies as basic life assurance business from inceptionTrader
s.019 Reclassification of policy or contract from date after it was effected Regulated
  • Reclassify policies wrongly treated as overseas life assuranceTrader
s.020 Charge to tax where no certificate under regulation 17 Regulated
  • Pay corporation tax on overseas life assurance policy gains when no certificate is obtainedTrader
s.021 Records to be kept and transfers of records Regulated
  • Keep detailed records for each overseas life assurance policyTrader
11 other provisions — procedural and definitional
s.001 Citation, commencement and effect
s.002 Interpretation
s.003 Meaning of specified event
s.004 General
s.012 General
s.013 Business other than reinsurance business effected by a company resident in the United Kingdom outside the United Kingdom
s.014 Business other than reinsurance business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company
s.015 Reinsurance business effected by a company resident in the United Kingdom outside the United Kingdom
s.016 Reinsurance business effected either by a company resident in the United Kingdom otherwise than outside the United Kingdom or by an overseas life insurance company
s.022 Information to be provided to the Board
s.023 Inspection of records

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.