The Financial Services (Designated Countries and Territories) (Overseas Insurance Companies) Order 1998

Made: 24th June 1998

Laid before Parliament: 25th June 1998

Coming into force: 16th July 1998

Now, therefore, the Treasury in exercise of the powers conferred by section 130(3) and (4) of the Financial Services Act 1986¹ and now vested in them², and of all other powers enabling them in that behalf, hereby make the following Order:

1

This Order may be cited as the Financial Services (Designated Countries and Territories) (Overseas Insurance Companies) Order 1998, and shall come into force on 16th July 1998.

2

The Bailiwick of Jersey is designated for the purposes of section 130 of the Financial Services Act 1986.

Signed

Graham Allen — Jon Owen Jones — Two of the Lords Commissioners of Her Majesty’s Treasury — 24th June 1998

Explanatory note

(This note is not part of the Order)

This Order designates the Bailiwick of Jersey for the purposes of section 130 of the Financial Services Act 1986. The Order removes from the prohibition imposed by subsection (1) of that section on the promotion of certain contracts of insurance, rights under which constitute an investment for the purposes of that Act, the promotion of such contracts with an insurance company authorised to effect or carry out such contracts in the Bailiwick of Jersey.

Footnotes