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| Clause 37, page 74, line 46, leave out from ‘exercised’ to end of line 47 and |
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| | ‘(i) | in relation to a relevant undertaker whose area is wholly or |
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| | (ii) | in relation to a water supply licensee using the supply system of |
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| | such an undertaker (see section 17B), or |
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| | (iii) | in relation to a sewerage licensee using the sewerage system of |
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| | such an undertaker (see section 17BA);’. |
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| Clause 37, page 74, line 49, leave out from ‘exercised’ to end of line 50 and |
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| | ‘(i) | in relation to a relevant undertaker whose area is wholly or |
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| | (ii) | in relation to a water supply licensee using the supply system of |
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| | such an undertaker (see section 17B);’. |
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| Clause 41, page 77, line 37, at end insert— |
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| | ‘( ) | The Water Resources Act 1991 is amended as follows.’. |
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| Clause 41, page 77, line 38, leave out ‘of the Water Resources Act 1991’. |
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| Clause 41, page 77, line 41, at end insert— |
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| | ‘( ) | Section 61A (recovery of compensation from new licence-holder) is repealed.’. |
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| Page 89, line 3, leave out Clause 47. |
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| Clause 56, page 91, line 22, at end insert— |
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| | ‘(za) | section (Disclosure of information: preparatory purposes);’. |
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| | The Flood Reinsurance Scheme |
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| To move the following Clause:— |
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| | ‘(1) | For the purposes of this Part, the Flood Reinsurance Scheme is a scheme which— |
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| | (a) | is established for the purpose mentioned in subsection (2), and |
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| | (b) | is designated for the purposes of this Part by regulations made by the |
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| | (2) | The purpose referred to in subsection (1)(a) is the purpose of providing |
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| | reinsurance to relevant insurers in respect of such risks relating to flooding as are |
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| | identified by the scheme, in such a way as to— |
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| | (a) | promote the availability and affordability of flood insurance for |
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| | household premises while minimising the costs of doing so, and |
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| | (b) | manage, over the period of operation of the scheme, the transition to risk- |
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| | reflective pricing of flood insurance for household premises. |
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| | (3) | Subsection (5) applies where the terms of the FR Scheme governing the |
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| | availability of reinsurance under the FR Scheme for an insurance policy include |
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| | a requirement as mentioned in subsection (4). |
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| | (4) | The requirement is that the part of the premium for the policy which is |
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| | attributable to risks relating to flooding does not exceed a specified amount (“the |
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| | (5) | The Secretary of State may by regulations make provision as to the level of the |
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| | eligibility threshold, and may make different provision for different purposes. |
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| | (6) | Regulations under subsection (5) may, in particular, make different provision for |
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| | different insurance policies by reference to the value of the household premises |
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| | to which a policy relates. |
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| | (7) | In this Part, the Flood Reinsurance Scheme is called “the FR Scheme”.’. |
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| To move the following Clause:— |
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| | ‘(1) | The FR Scheme is to be administered by a body designated by regulations made |
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| | by the Secretary of State. |
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| | (2) | The Secretary of State may under subsection (1) designate a company registered |
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| | under the Companies Act 2006 or a body of another kind. |
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| | (3) | In this Part, the body designated under subsection (1) is called “the FR Scheme |
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| To move the following Clause:— |
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| | ‘(1) | The Secretary of State may, with the consent of the Treasury, make regulations |
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| | requiring relevant insurers to pay to the FR Scheme administrator— |
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| | (a) | a levy, the amount and timing of which is to be determined in accordance |
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| | (b) | such further amounts, by way of levy or contribution, as may be |
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| | requested by the FR Scheme administrator from time to time in |
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| | accordance with the FR Scheme. |
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| | (2) | Regulations under subsection (1) may make provision as to— |
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| | (a) | the circumstances in which a request under subsection (1)(b) may be |
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| | (b) | the amounts that may be requested under subsection (1)(b). |
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| | (3) | The Secretary of State may by regulations make provision for amounts payable |
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| | under subsection (1) to be recoverable summarily (or in Scotland recoverable) as |
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| | (4) | The Secretary of State may by regulations make provision as to the application of |
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| | any amounts paid under subsection (1). |
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| | (5) | The Secretary of State may by regulations provide that, where such conditions as |
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| | are specified in the regulations as regards the reserves of the FR Scheme are |
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| | satisfied, the FR Scheme administrator must pay to the Secretary of State an |
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| | amount of the reserves to be determined in accordance with the regulations. |
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| | (6) | Regulations under subsection (5) may— |
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| | (b) | make provision about determining the amount of the reserves of the FR |
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| | (7) | Before making regulations under subsection (5), the Secretary of State must |
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| | consult the Prudential Regulation Authority.’. |
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| To move the following Clause:— |
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| | ‘(1) | The Secretary of State may by regulations make provision in connection with the |
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| | administration of the FR Scheme. |
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| | (2) | Regulations under subsection (1) may require the FR Scheme administrator to |
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| | have regard to the following in discharging its functions— |
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| | (a) | the need to ensure economy, efficiency and effectiveness in the discharge |
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| | (b) | the need to act in the public interest, |
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| | (c) | the need to ensure propriety and regularity in the operation of the FR |
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| | (d) | the need to manage, over the period of operation of the FR Scheme, the |
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| | transition to risk-reflective pricing of flood insurance for household |
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| | (3) | Regulations under subsection (1) may require the FR Scheme administrator to |
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| | produce and publish, in accordance with the regulations, a plan for achieving the |
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| | transition mentioned in subsection (2)(d). |
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| | (4) | Regulations under subsection (1) may— |
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| | (a) | limit, to any extent, the power of the FR Scheme administrator to borrow |
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| | money or otherwise incur debt; |
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| | (b) | make provision about the reserves of the FR Scheme, including |
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| | limitations on draw downs and transfers; |
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| | (c) | require the FR Scheme administrator to take steps to limit the overall net |
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| | losses that may be incurred by the FR Scheme in any year to an amount |
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| | specified in or determined in accordance with the regulations; |
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| | (d) | provide for the form and contents of the FR Scheme’s accounts; |
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| | (e) | provide for a copy of the audited FR Scheme’s accounts and a copy of the |
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| | auditor’s report on those accounts to be laid before Parliament; |
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| | (f) | provide for the Comptroller and Auditor General to examine— |
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| | (i) | the economy, efficiency and effectiveness with which the FR |
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| | Scheme administrator has used resources in discharging its |
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| | (ii) | the propriety and regularity in the operation of the FR Scheme, |
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| | | and for a report on any such examination to be laid before Parliament; |
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| | (g) | provide that for the purposes of an examination under paragraph (f)— |
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| | (i) | the Comptroller and Auditor General is to have a right of access |
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| | at all reasonable times to any of the documents relating to the FR |
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| | (ii) | a person who holds or has control of any of those documents is |
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| | to give the Comptroller and Auditor General any assistance, |
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| | information or explanation which the Comptroller and Auditor |
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| | General requires in relation to any of those documents. |
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| | (5) | Regulations under subsection (1) may— |
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| | (a) | require the FR Scheme administrator to designate an individual of a |
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| | description specified in the regulations as the responsible officer of the |
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| | (b) | provide for the responsible officer to have such responsibilities in respect |
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| | (i) | the FR Scheme’s finances, |
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| | (ii) | the FR Scheme’s accounts, |
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| | (iii) | accountability to Parliament for the economy, efficiency and |
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| | effectiveness with which the FR Scheme uses resources in |
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| | discharging its functions; |
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| | (iv) | accountability to Parliament for propriety and regularity in the |
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| | operation of the FR Scheme, and |
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| | (v) | examinations and reports under subsection (4)(f), |
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| | | as are specified in the regulations. |
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| | (6) | Regulations under subsection (1) may make provision about the disclosure of |
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| | information required for the purposes of the FR Scheme and may, in particular— |
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| | (a) | as regards information which is held for council tax purposes by the |
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| | Valuation Office of Her Majesty’s Revenue and Customs, make |
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| | (i) | for the supply of such information to the FR Scheme |
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| | administrator, to relevant insurers and to such other persons as |
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| | may be specified in the regulations; |
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| | (ii) | for any such supply to be subject to such conditions as may be |
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| | specified in the regulations; |
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| | (iii) | making it an offence for a person to fail to comply with any such |
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| | condition, subject to any defence specified in the regulations; |
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| | (b) | require relevant insurers to supply to the FR Scheme administrator such |
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| | information as it may request in relation to insurance policies issued by |
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| | (7) | Regulations under subsection (1) may provide for the supply by the FR Scheme |
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| | administrator of information held by it in connection with the FR Scheme to— |
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| | (a) | the Environment Agency, |
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| | (b) | the Scottish Environment Protection Agency, |
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| | (c) | the Natural Resources Body for Wales, |
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| | (d) | the Department of Agriculture and Rural Development in Northern |
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| | (e) | such other body as may be specified in the regulations. |
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| | (8) | Regulations under subsection (1) may provide for the supply by the FR Scheme |
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| | administrator of information held by it in connection with the FR Scheme to the |
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| | Secretary of State for purposes relating to government accounting. |
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| | (9) | Subsections (2) to (8) are not exhaustive of what may be done under subsection |
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| | (10) | In this section, “the FR Scheme’s accounts” means the accounts for a financial |
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| | year of the FR Scheme prepared by the FR Scheme administrator in respect of the |
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| | Replacement of the scheme or administrator |
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| To move the following Clause:— |
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| | ‘(1) | Where regulations under section (The Flood Reinsurance Scheme) replace the FR |
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| | Scheme by revoking a designation and making a new designation, the regulations |
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| | may make such provision as the Secretary of State thinks fit in connection with |
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| | the replacement of the old FR scheme with the new FR scheme. |
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| | (2) | Where regulations under section (Scheme administrator) replace the FR Scheme |
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| | administrator by revoking a designation and making a new designation, the |
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| | regulations may make provision for the transfer of property, rights and liabilities |
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| | relating to the FR Scheme from the old administrator to the new administrator.’. |
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| | Disclosure of information: preparatory purposes |
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| To move the following Clause:— |
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| | ‘(1) | The Secretary of State may by regulations make provision about the disclosure of |
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| | HMRC council tax information in connection with such scheme as may be |
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| | established and designated in accordance with section (The Flood Reinsurance |
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| | (2) | In this section “HMRC council tax information” means information which is held |
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| | for council tax purposes by the Valuation Office of Her Majesty’s Revenue and |
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| | (3) | Regulations under subsection (1) may, in particular, make provision— |
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| | (a) | for the supply of HMRC council tax information to such persons, or |
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| | descriptions of persons, as may be specified in the regulations; |
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| | (b) | for any such supply to be subject to such conditions as may be specified |
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| | (c) | making it an offence for a person to fail to comply with any such |
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| | condition, subject to any defence specified in the regulations; |
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| | (d) | about the destruction, in such circumstances as may be specified in the |
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| | regulations, of records of any HMRC council tax information obtained |
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| | by virtue of the regulations.’. |
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| | Flood insurance obligations |
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| To move the following Clause:— |
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| | ‘(1) | The Secretary of State may by regulations require a relevant insurer to issue in a |
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| | prescribed period insurance policies that provide cover against a prescribed |
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| | description of risk for a prescribed number of registered premises. |
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| | (2) | The regulations may prescribe different numbers of registered premises for |
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| | different descriptions of risk. |
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| | (3) | The descriptions of risks that may be prescribed are those relating to the effects |
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| | (4) | The regulations may provide for a prescribed number relating to a relevant insurer |
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| | to be determined by reference to factors that include in particular— |
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| | (a) | a target number (see section (Flood insurance obligations: target |
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| | (b) | the relevant insurer’s share of insurance business of a prescribed |
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| | (a) | make provision about determining the size of a relevant insurer’s share |
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| | of insurance business of a prescribed description; |
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| | (b) | provide for a relevant insurer to be exempt from the obligation described |
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| | in subsection (1) in prescribed circumstances, whether wholly or so far as |
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| | regards a particular description of risk, including circumstances relating |
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| | to the amount of insurance business done by the relevant insurer; |
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| | (c) | make provision about the circumstances in which a relevant insurer |
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| | ceases to be subject to the obligation described in subsection (1), whether |
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| | wholly or so far as regards a particular description of risk; |
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| | (d) | make provision about the cases in which issuing an insurance policy is |
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| | not to count towards discharging an obligation imposed on a relevant |
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| | insurer by the regulations, including cases in which an insurance policy |
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| | is not to count because of the content of its terms; |
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| | (e) | make provision for allowing an insurance policy issued by another |
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| | insurer to count towards the discharge of an obligation to issue a number |
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| | of insurance policies imposed on a relevant insurer by the regulations; |
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| | (f) | make provision about determining the number of registered premises for |
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| | which a relevant insurer has issued insurance policies, including |
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| | provision for varying, by reference to the risk band applicable to the |
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| | particular registered premises, the extent to which insuring those |
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| | premises counts in determining that number. |
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| | (6) | Provision under subsection (5)(a) may require an insurer, in determining the |
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| | insurer’s share of insurance business of a prescribed description, to use |
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| | information about that insurance business held by— |
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| | (a) | the Secretary of State, |
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| | (b) | a person acting on behalf of the Secretary of State, or |
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| | (7) | Subsection (5)(e) is not to be taken as requiring a change in the person who is the |
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| | insurer in relation to an insurance policy. |
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| | (8) | Regulations under this section may include provision in respect of cases where an |
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| | insurer has not provided such information as is required by regulations under |
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| | section (Flood insurance obligations: information) including— |
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| | (a) | provision for determining whether the insurer is a relevant insurer, |
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| | (b) | provision for determining whether an exemption applies, and |
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| | (c) | provision for determining what share of insurance business of a |
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| | prescribed description the insurer is to be treated as having. |
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| | (9) | Before making regulations under this section, the Secretary of State must consult |
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| | such persons as the Secretary of State considers appropriate. |
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| | (10) | In this section “prescribed” means specified in or determined in accordance with |
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| | regulations under this section.’. |
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