INSURANCE COMPANIES ACT 1982

Notice of Direction under Section 11

Notice is hereby given, pursuant to section 12(8) of the Insurance Companies Act 1982 (“the Act”) that on 31st December 1997, the Secretary of State for Trade and Industry gave a direction under section 11 of the Act to Scottish Union and National Insurance Company (“the Company”). The direction provided that the Company shall cease to be authorised to effect contracts of insurance in the United Kingdom and was given at the request of the Company. HM Treasury