PART II SPECIFIED ACTIVITIES
Chapter IIIInsurance
Exclusions
Community co-insurers11
1
There is excluded from article 10(1) or (2) the effecting or carrying out of a contract of insurance by an EEA firm falling within paragraph 5(d) of Schedule 3 to the Act—
a
other than through a branch in the United Kingdom; and
b
pursuant to a Community co-insurance operation in which the firm is participating otherwise than as the leading insurer.
2
In paragraph (1), “Community co-insurance operation" and “leading insurer" have the same meaning as in F1Article 190 of the Solvency 2 Directive.