450.—(1) Regulation 2 of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993 (interpretation) is amended as follows.
(2) In paragraph (1) after the definition of “enactment” insert—
““friendly society” has the same meaning as in the Financial Services and Markets Act 2000;”.
(3) In paragraph (2) for sub-paragraph (b) substitute—
“(b)requires permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance without contravening the prohibition imposed by section 19 of that Act, and”.
(4) After paragraph (3)(b) insert—
“(c)is a friendly society.”.
(5) After paragraph (4) insert—
“(5) Paragraph (2)(b) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.