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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019
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- UK Statutory Instruments
- 2019 No. 632
- PART 2
- CHAPTER 21
- Regulation 100
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The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019, Section 100 is up to date with all changes known to be in force on or before 22 December 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 Regulation 100:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Paragraph 4A (introduction to Part 1D)U.K.
This section has no associated Explanatory Memorandum
100. In paragraph [F14A]—
(a)for [F2sub-paragraph (6)(a)] substitute—
“(a)the persons are undertakings, whether incorporated or not, other than an existing insurance or reinsurance undertaking, which assume risks from insurance or reinsurance undertakings and which fully fund their exposure to such risks through the proceeds of a debt issuance or any other financing mechanism where the repayment rights of the providers of such debt or financing mechanism are subordinated to the reinsurance obligations of such an undertaking;”;
(b)for [F3sub-paragraph (6)(b)] substitute—
“(b)the persons are not insurance undertakings;”.
[F4(c)after sub-paragraph (6), insert—
“(7) In paragraph (6)(a), references to undertakings which assume risks from insurance or reinsurance undertakings include references to undertakings which assume risks from third country insurance or reinsurance undertakings and Gibraltarian insurance or reinsurance undertakings; and for these purposes “third country insurance undertakings”, “third country reinsurance undertakings”, “Gibraltarian insurance undertakings” and “Gibraltarian reinsurance undertakings” have the same meaning as in the Solvency 2 Regulations 2015 (S.I. 2015/575), as amended under the European Union (Withdrawal) Act 2018 (see, in particular, regulation 2(1)).”.]
Textual Amendments
F1Word in reg. 100 substituted (31.12.2020 immediately before IP completion day) by The Risk Transformation and Solvency 2 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1233), regs. 1(3), 5(a); 2020 c. 1, Sch. 5 para. 1(1)
F2Words in reg. 100(a) substituted (31.12.2020 immediately before IP completion day) by The Risk Transformation and Solvency 2 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1233), regs. 1(3), 5(b); 2020 c. 1, Sch. 5 para. 1(1)
F3Words in reg. 100(b) substituted (31.12.2020 immediately before IP completion day) by The Risk Transformation and Solvency 2 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1233), regs. 1(3), 5(c); 2020 c. 1, Sch. 5 para. 1(1)
F4Reg. 100(c) inserted (31.12.2020 immediately before IP completion day) by The Risk Transformation and Solvency 2 (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/1233), regs. 1(3), 5(d); 2020 c. 1, Sch. 5 para. 1(1)
Commencement Information
I1Reg. 100 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)
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