116 Effect of insurance business transfers authorised in other EEA States
116 Effect of insurance business transfers authorised in other EEA States

(1)     This section applies if, as a result of an authorised transfer, an EEA firm falling within paragraph 5(d) [or (da)] of Schedule 3 transfers to another body all its rights and obligations under any UK policies.

[(2)     This section also applies if, as a result of an authorised transfer, any of the following transfers to another body all its rights and obligations under any UK policies—

[(a)     an undertaking authorised in an EEA State other than the United Kingdom under Article 162 of the Solvency 2 Directive;

(b)     an undertaking whose head office is not in an EEA State and which is authorised under the law of an EEA State other than the United Kingdom to carry out reinsurance activities in its territory (as mentioned in Article 174 of the Solvency 2 Directive).]

(c)     . . .]