The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

[F1Transformer vehicles: insurance risk transformationU.K.

13A.  It is a specified kind of activity for a transformer vehicle to assume a risk from an undertaking where—

(a)the undertaking assumes a risk under a contract of insurance (“the underlying risk”); and

(b)the assumption of risk by the transformer vehicle has the legal or economic effect of transferring some or all of the underlying risk to the transformer vehicle.]

Textual Amendments