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

Transfers of engagements

201.—(1) Section 86 of the Friendly Societies Act 1992 (transfer of engagements by or to friendly society) is amended as follows.

(2) Subsection (1)(a) is repealed.

(3) In subsection (1)(d), for the words “insurance company” to the end, substitute “insurer”.

(4) In subsection (1)(e) for the words “paragraph (a), (b) or (c) above” substitute “paragraph (b), (c) or (d) above”.

(5) After subsection (11), insert—

“(12) In this section “insurer” means—

(a) a person who has permission under Part IV 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.

(13) Subsection (12) 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.”.