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Financial Services and Markets Act 2000
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- UK Public General Acts
- 2000 c. 8
- SCHEDULE 6
- PART 1D
- Paragraph 4A
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Changes over time for: Paragraph 4A
Version Superseded: 08/12/2017
Alternative versions:
- 01/04/2013- Amendment
- 18/03/2016
Point in time - 08/12/2017- Amendment
- 31/12/2020- Amendment
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Point in time view as at 18/03/2016. This version of this provision has been superseded.
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Financial Services and Markets Act 2000, Paragraph 4A is up to date with all changes known to be in force on or before 28 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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IntroductionU.K.
This section has no associated Explanatory Notes
[F14A.(1)If the person concerned (“C”) carries on, or is seeking to carry on, regulated activities which consist of or include a PRA-regulated activity relating to the effecting or carrying out of contracts of insurance, the threshold conditions which are relevant to the discharge by the PRA of its functions in relation to C are the conditions set out in paragraphs 4B to 4F.
(2)If the person concerned (“C”) carries on, or is seeking to carry on, regulated activities which consist of or include a PRA-regulated activity relating to managing the underwriting capacity of a Lloyd’s syndicate as a managing agent at Lloyd’s, the conditions which are relevant to the discharge by the PRA of its functions in relation to C are the conditions set out in paragraphs 4C to 4F except for sub-paragraphs (5)(d) and (5)(e) of paragraph 4D which are not relevant for that purpose.
(3)If the person concerned (“C”) carries on, or is seeking to carry on, regulated activities which consist of or include a PRA-regulated activity relating to the arranging, by the Society, of deals in contracts of insurance written at Lloyd’s, the conditions which are relevant to the discharge by the PRA of its functions in relation to C are the conditions set out in paragraphs 4C to 4F, subject to sub-paragraph (4).
(4)Paragraph 4D has effect in relation to persons of the kind specified by sub-paragraph (3) as if—
(a)for paragraph (d) and (e) of sub-paragraph (5) there were substituted—
“(d)the effect that the carrying on of business by C might be expected to have on the stability of the UK financial system or on those who are or may become policyholders of members of C;
(e)the effect that the failure of C might be expected to have on the stability of the UK financial system or on those who are or may become policyholders of members of C;”, and
(b)sub-paragraph (6) were omitted.]
Textual Amendments
F1Sch. 6 Pts. 1-1G substituted for Sch. 6 Pts. 1, 2 (1.4.2013) by The Financial Services and Markets Act 2000 (Threshold Conditions) Order 2013 (S.I. 2013/555), arts. 1, 2(2)
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