2. The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1) (“the Regulated Activities Order”) is amended by inserting, after article 72—
72A.—(1) There is excluded from this Part any activity consisting of the provision of an information society service from an EEA State other than the United Kingdom.
(2) The exclusion in paragraph (1) does not apply to the activity of effecting or carrying out a contract of insurance as principal, where—
(a)the activity is carried on by an undertaking which has received official authorisation in accordance with Article 6 of the first life insurance directive or the first non-life insurance directive, and
(b)the insurance falls within the scope of any of the insurance directives.”.