The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001

Interpretation of expressions relating to insurance

137.—(1) In the Pensions Schemes (Northern Ireland) Act 1993, after section 175 insert—

“Insurer and long-term insurance business

175A.— (1) In this Act “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.

(2) In this Act “long term insurance business” means business which consists of the effecting or carrying out of contracts of long-term insurance.

(3) This section 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.”.

(2) In section 176(1) of that Act, the definition of “insurance company” is repealed.