Number 34 of 1981

INSURANCE ACT, 1981

ARRANGEMENT OF SECTIONS

Number 34 of 1981

INSURANCE ACT, 1981

Power of Irish Life Assurance Company Limited to alter its memorandum of association.

1.—(1) In this section “the Permanent Company” means Irish Life Assurance Company Limited.

(2) Notwithstanding anything contained in section 14 (2) of the Insurance (Amendment) Act, 1938, or in clause 7 (b) of the Agreement set out in the Schedule to that Act (and referred to in that Act as “the Scheduled Agreement”), the Permanent Company may alter its memorandum of association so as to provide for—

(a) the carrying on of business in any of the classes of insurance referred to in the Annex to Council Directive 79/267/EEC¹1 by the Permanent Company, or by a subsidiary company or subsidiary companies of the Permanent Company not authorised to carry on business in any of the classes of insurance referred to in the Annex to Council Directive 73/239/EEC²2,

(b) the promotion or acquisition by the Permanent Company of a company formed and registered in the State or a company, or companies, formed and registered outside the State for the purpose of carrying on business in any or all of the classes of insurance referred to in the Annex to Council Directive 73/239/EEC², and

(c) the deletion from the memorandum of association of the provisions complying with clauses 7 (b) (ii) to 7 (b) (iv) of that Schedule.

Amendment of section 2 (3) of Insurance Act, 1953.

2.—Section 2 (3) of the Insurance Act, 1953, is hereby amended by the substitution of “£300,000,000” for “one-hundred million pounds” (inserted by the Insurance (Amendment) Act, 1978), and that section, as so amended, is set out in the Table to this section.

TABLE

(3) The aggregate amount of the liability at any time of the Minister in respect of arrangements under this section shall not exceed £300,000,000.

Amendment of section 2 of Insurance (Amendment) Act, 1978.

3.—Section 2 (1) (a) (ii) (C) of the Insurance (Amendment) Act, 1978, is hereby amended by the substitution of “primary” for “sole”, and that section as so amended, is set out in the Table to this section.

TABLE

(C) to secure the due payment or repayment by a person on foot of a contract of a sum of money (including interest) which is certain or ascertainable (and whether in the currency of the State or in any other currency), the said payment or repayment being the primary obligation of the person under the contract, or

Short title and collective citation.

4.—(1) This Act may be cited as the Insurance Act, 1981.

(2) The Insurance Acts, 1909 to 1978, and this Act may be cited together as the Insurance Acts, 1909 to 1981.

OJL63, 13.3.1979, pp 1-18.

OJL228, 16.8.1973, pp 3-19.

Uimhir 34 de 1981

AN tACHT ÁRACHAIS, 1981

[An tiontú oifigiúil]

Cumhacht Chuideachta Árachais Saoil na hÉireann Teoranta a meabhrán comhlachais a athrú.

1.—(1) San alt seo ciallaíonn “an Bhuan-Chuideachta” Cuideachta Árachais Saoil na hÉireann Teoranta.

(2) D'ainneoin aon ní in alt 14 (2) den Acht Árachais (Leasú), 1938, nó i gclásal 7 (b) den Chomhaontú atá leagtha amach sa Sceideal a ghabhann leis an Acht sin (agus dá ngairtear “an Có-aontú Sceidealta” san Acht sin), féadfaidh an Bhuan-Chuideachta a meabhrán comhlachais a athrú chun a shocrú—

(a) go bhféadfaidh an Bhuan-Chuideachta nó fochuideachta nó fochuideachtaí den Bhuan-Chuideachta nach bhfuil údaraithe gnó a sheoladh in aon cheann de na haicmí árachais dá dtagraítear san Iarscríbhinn a ghabhann le Treoir 73/239/CEE² ón gComhairle gnó a sheoladh in aon aicme de na haicmí árachais dá dtagraítear san Iarscríbhinn a ghabhann le Treoir 79/267/CEE¹ ón gComhairle,

(b) go bhféadfaidh an Bhuan-Chuideachta cuideachta a bunaíodh agus a cláraíodh sa Stát nó cuideachta nó cuideachtaí a bunaíodh agus a cláraíodh lasmuigh den Stát chun gnó a sheoladh in aon aicme nó i ngach aicme de na haicmí árachais dá dtagraítear san Iarscríbhinn a ghabhann le Treoir 73/239/CEE² ón gComhairle, a chur chun cinn nó a fháil, agus

(c) go ndéanfar na forálacha lena gcomhlíontar clásail 7 (b) (ii) go 7 (b) (iv) den Sceideal sin a scriosadh as an meabhrán comhlachais.

Leasú ar alt 2 (3) den Acht Árachais, 1953.

2.—Leasaítear leis seo alt 2 (3) den Acht Árachais, 1953, trí “£300,000,000” a chur in ionad “céad milliún punt” (a cuireadh isteach leis an Acht Árachais (Leasú), 1978), agus tá an t-alt sin, arna leasú amhlaidh, leagtha amach sa Tábla a ghabhann leis an alt seo.

Leasú ar alt 2 den Acht Árachais (Leasú), 1978.

3.—Leasaítear leis seo alt 2 (1) (a) (ii) (C) den Acht Árachais (Leasú), 1978, trí “príomh” a chur in ionad “aon” agus tá an t-alt sin, arna leasú amhlaidh, leagtha amach sa Tábla a ghabhann leis an alt seo.

Gearrtheideal agus comhlua.

4.—(1) Féadfar an tAcht Árachais, 1981, a ghairm den Acht seo.

(2) Féadfar na hAchtanna Árachais, 1909 go 1981, a ghairm de na hAchtanna Árachais, 1909 go 1978, agus den Acht seo le chéile.

² IO L228, 16.8.1973, lth 3-19.

¹ IO L63, 13.3.1979, lth 1-18.

² IO L228, 16.8.1973, lth 3-19.