I have today laid the draft Third Parties (Rights against Insurers) Regulations (“the draft Regulations”) before both Houses of Parliament. The draft Regulations have to be approved by a resolution of each House of Parliament before they can be made. Subject to that approval being given, I intend to make the Regulations without delay. I will announce the commencement date of the Third Parties (Rights against Insurers) Act 2010 (“the 2010 Act”) as amended by both the Insurance Act 2015 and the Regulations in due course but the date will not be earlier than three months after the regulations have been made.
This statement has also been made in the House of Commons: