S.I. No. 161/2002 - Life Assurance (Provision of Information) (Amendment) Regulations 2002

I, Noel Treacy, Minister of State at the Department of Enterprise, Trade and Employment, in exercise of the powers conferred on me by sections 43B, 43D and 43E (inserted by the Insurance Act 2000 (No. 42 of 2000)) of the Insurance Act 1989 (No. 3 of 1989) (as adapted by the Enterprise and Employment (Alteration of Name and Title of Minister) Order 1997 ( S.I. No. 305 of 1997 )), and the Enterprise, Trade and Employment (Delegation of Ministerial Functions) Order 1998 ( S.I. No. 265 of 1998 ) hereby make the following regulations:

1.         These Regulations may be cited as the Life Assurance (Provision of Information) (Amendment) Regulations 2002.

2.         These Regulations shall come into operation on 1 July 2002.

3.         The Life Assurance (Provision of Information) Regulations 2001 ( S.I. No. 15 of 2001 ) are amended by substituting “6%” for “8%” in paragraph 2 of Part 1 of Schedule 2 to those Regulations.

EXPLANATORY NOTE

(This note is not part of the Instrument and does not purport to be a legal interpretation)

The purpose of these regulations is to amend the maximum illustration rate specified in Part 1 of Schedule 2, of the Life Assurance (Provision of Information) Regulations 2002.