Insurance Act, 2000
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PART 2 The Insurance Acts | ||
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Chapter 1 Amendments of Act of 1989 | ||
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Amendment of section 2 of Act of 1989 (Interpretation). |
3.—Section 2 of the Act of 1989 is hereby amended in subsection (1)— | |
(a) by the substitution of the following for the definition of “authorisation”: | ||
“‘authorisation’ means an authorisation granted by the Minister under the Regulations of 1976, the Regulations of 1984, the Non-Life Regulations of 1994 or the Life Regulations of 1994 to carry on a specified class or description of insurance business;”, | ||
(b) by the deletion of the definition of “client”, | ||
(c) by the substitution of the following for the definition of “the Insurance Acts”: | ||
“‘the Insurance Acts’ means the Insurance Acts, 1909 to 2000, regulations made under those Acts and regulations relating to insurance made under the European Communities Act, 1972 ;”, | ||
(d) by the substitution of the following for the definition of “insurance agent”: | ||
“‘insurance agent’ has the same meaning as in the Investment Intermediaries Act, 1995 ;”, | ||
(e) by the substitution of the following for the definition of “insurance broker”: | ||
“‘insurance broker’ has the same meaning as in the Investment Intermediaries Act, 1995 ;”, | ||
(f) by the substitution of the following for the definition of “insurance intermediary” or “intermediary”: | ||
“‘insurance intermediary’ or ‘intermediary’ has the same meaning as an insurance intermediary under the Investment Intermediaries Act, 1995 ;”, | ||
(g) by the insertion of the following after the definition of “insurance intermediary”: | ||
“‘insurance undertaking’ or ‘undertaking’ means— | ||
(a) the holder of an authorisation as defined in this section, | ||
(b) the holder of an official authorisation granted pursuant to— | ||
(i) Council Directive No. 73/239/EEC of 24 July 19731 as amended or extended from time to time, | ||
(ii) Council Directive No. 79/267/EEC of 5 March 19792 as amended or extended from time to time, or | ||
(iii) the Swiss Confederation Agreement as defined in the European Communities (Swiss Confederation Agreement) Regulations, 1996 ( S.I. No. 25 of 1996 ), | ||
(c) the holder of an official authorisation to undertake insurance in Iceland, Liechtenstein or Norway pursuant to the EEA Agreement within the meaning of the European Communities (Amendment) Act, 1993 , or | ||
(d) an insurance undertaking to which Article 6(4) of the Non-Life Regulations of 1994 applies;”, | ||
(h) by the substitution of the following for the definition of “insurer”: | ||
“‘insurer’ has the same meaning as insurance undertaking;”, | ||
(i) by the substitution of the following for the definition of “life assurance”: | ||
“‘life assurance’ means insurance of a class specified in Part A of Annex I to the Life Regulations of 1994;”, | ||
(j) by the insertion of the following after the definition of “life assurance”: | ||
“‘the Life Regulations of 1994’ means the European Communities (Life Assurance) Framework Regulations, 1994 ( S.I. No. 360 of 1994 );”, | ||
(k) by the substitution of the following for the definition of “non-life insurance”: | ||
“‘non-life insurance’ means insurance of a class specified in Part A of Annex I to the Non-Life Regulations of 1994;”, | ||
(l) by the insertion of the following after the definition of “non-life insurance”: | ||
“‘the Non-Life Regulations of 1994’ means the European Communities (Non-Life Insurance) Framework Regulations, 1994 ( S.I. No. 359 of 1994 );”, | ||
and | ||
(m) by the deletion of the definition of “undertaking”. | ||