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The Solvency 2 Regulations 2015
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- UK Statutory Instruments
- 2015 No. 575
- SCHEDULE 2
- Paragraph 11
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The Solvency 2 Regulations 2015, Paragraph 11 is up to date with all changes known to be in force on or before 22 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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Changes and effects yet to be applied to Schedule 2 Paragraph 11:
- Regulations transitional provision for revocation of S.I. 2015/575 by S.I. 2024/594, reg. 7, Sch. (as inserted) by S.I. 2024/1116 reg. 5 Sch.
Financial Services and Markets Act 2000 (Regulated Activities) Order 2001U.K.
This section has no associated Explanatory Memorandum
11.—(1) The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 M1 is amended as follows.
(2) In article 3(1) (interpretation), in the definition of “contract of insurance”—
(a)in paragraph (e) for “article 1(2)(e) of the first life insurance directive (collective insurance etc.)” substitute “ Article 2(3)(b)(v) of the Solvency 2 Directive ”;
(b)in paragraph (f) for “article 1(3) of the first life insurance directive (social insurance)” substitute “ Article 2(3)(c) of the Solvency 2 Directive ”.
(3) In article 11(2) (community co-insurers) for “the Council Directive of 30 May 1978 on the co-ordination of laws, regulations and administrative provisions relating to Community co-insurance (No 78/473/EEC)” substitute “ Article 190 of the Solvency 2 Directive ”.
(4) In paragraph (2) of article 72A (information society services)—
(a)omit sub-paragraphs (a) and (b);
(b)insert at the end of paragraph (2) “ the insurance falls within the scope of the Solvency 2 Directive. ”.
(5) In Schedule 1 (contracts of insurance)—
(a)in paragraph VIII (collective insurance etc) for “article 1(2)(e) of the first life insurance directive” substitute “ Article 2(3)(b)(v) of the Solvency 2 Directive ”;
(b)in paragraph IX (social insurance) for “article 1(3) of the first life insurance directive” substitute “ Article 2(3)(c) of the Solvency 2 Directive ”.
Marginal Citations
M1S.I. 2001/544; relevant amending instruments are S.I. 2002/1776 and 2004/3379
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