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

Judicial pensions: transfer of accrued benefits

326.—(1) Schedule 13 to the Courts and Legal Services Act 1990 (transfer of accrued benefits) is amended as follows.

(2) In paragraph 1 of Schedule 1A(1) (to be inserted in the Judicial Pensions Act 1981), the existing provision becomes sub-paragraph (1).

(3) In that sub-paragraph, for the definition of “authorised insurance company” substitute—

““authorised insurer” means—

(i)

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of long-term insurance, or

(ii)

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 long-term insurance;”.

(4) After that sub-paragraph, insert—

“(2) The definition of “authorised insurer” in sub-paragraph (1) must be read with—

(a) section 22 of the Financial Services and Markets Act 2000;

(b) any relevant order under that section;

(c) Schedule 2 to that Act.”.

(5) In paragraph 6(2)(c), for “insurance companies” substitute “insurers”.

(6) In paragraph 11(3), in paragraph (a) of the definition of “qualifying scheme” for “insurance company” substitute “insurer”.

(1)

Schedule 1A is to be inserted in the Judicial Pensions Act 1981 (c. 20), from a date not yet appointed on the date when this Order comes in to force.