The Insurers (Reorganisation and Winding Up) Regulations 2004

Interpretation of this Part

48.—(1) In this Part—

(a) “relevant measure”, in relation to a third country insurer, means

(i) a winding up;

(ii) an administration order made under paragraph 13 of Schedule B1;

or

(iii) a decision of the court to reduce the value of one or more of the insurer’s contracts, in accordance with section 377 of the 2000 Act;

(b) “third country insurer” means a person—

(i) who has permission under the 2000 Act to effect or carry out contracts of insurance; and

(ii) whose head office is not in the United Kingdom or an EEA State.

(2) In paragraph (1), the definition of “third country insurer” must be read with—

(a) section 22 of the 2000 Act;

(b) any relevant order made under that section; and

(c) Schedule 2 to that Act.