5.—[F1(1)] Any payment made to the injured person by an[F1 insurer] under the terms of any contract of insurance entered into between the injured person and[F1 the insurer] before—N.I.
(a)the date on which the injured person first claims a listed benefit in consequence of the disease in question, or
(b)the occurrence of the accident or injury in question.
[F1(2) “Insurer” means—
(a)a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance; or
(b)an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of insurance.
(3) Sub-paragraph (2) 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.]
F1SI 2001/3649