9
Restriction of Business
9.1
- (1) A firm, other than a pure reinsurer, must not carry on any commercial business other than insurance business and activities directly arising from that business.
- (2) (1) does not prevent a friendly society that was on 15 March 1979 carrying on long-term insurance business and savings business from continuing to carry on savings business.
[Note: Arts. 18(1)(a) and 305(3) of the Solvency II Directive]
- 01/01/2016
9.2
A pure reinsurer must not carry on any business other than the business of reinsurance and related operations.
[Note: Art. 18(1)(b) of the Solvency II Directive]
- 01/01/2016