The Solvency 2 Regulations 2015

Friendly Societies Act 1992 U.K.

19.—(1) The Friendly Societies Act 1992 M1 is amended as follows.

(2) In section 52(2)(c)(i) (applications to court) for “the general insurance or the life assurance consolidation Directive” substitute “ the Solvency 2 Directive ”.

(3) In subsection (1) of section 119 (general interpretation)—

(a) omit the following definitions—

(i) “the life assurance consolidation Directive”;

(ii) “the first general insurance Directive”;

(iii) “the general insurance Directives”;

(iv) “the second general insurance Directive”;

(v) “the third general insurance Directive”;

(b) insert at the appropriate place—

““the Solvency 2 Directive” means Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);”.

(4) Omit subsections (1A), (1D) and (3) of section 119.

(5) In Schedule 15 (amalgamations, transfers of engagements and conversion: supplementary)—

(a) in paragraph 15(1)(c)(vi) for “Article 25 or 26 of the first general insurance Directive” substitute “ Article 166 or 167 of the Solvency 2 Directive ”;

(b) in paragraph 15A(1)(c)(v) for “Article 55 or 56 of the life assurance consolidation Directive” substitute “ Article 166 or 167 of the Solvency 2 Directive ”.

Marginal Citations

M1 1992 c. 40.