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544. Regulation 1 of the Occupational Pension Schemes (Investment) Regulations 1996 (citation, commencement and interpretation) is amended as follows—
(a)in paragraph (2)—
(i)for the definition of “collective investment scheme” substitute—
““collective investment scheme” has the same meaning as in Part 17 of the Financial Services and Markets Act 2000, but includes arrangements of the type described in paragraphs 4 and 9 of the Schedule to the Financial Services and Markets Act 2000 (Collective Investment Schemes) Order 2001;”;
(ii)for the definition of “insurance company” substitute—
““insurance company” means a person carrying on the business of effecting or carrying out contracts of insurance;”;
(iii)for the definition of “policy of insurance” substitute—
““policy of insurance” means a contract of long-term insurance the effecting or carrying out of which, by way of business, constitutes the carrying on of a regulated activity within the meaning of the Financial Services and Markets Act 2000;”;
(b)for paragraph (3) substitute—
“(3) The definitions of “insurance company” and “policy of insurance” in paragraph (2), together with regulations 5(3)(b), 6(2) and (4) and 8(1), must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.
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