The Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003

Amendment to the Compensation Scheme: Electing Participants Regulations

15.—(1) The Financial Services and Markets Act 2000 (Compensation Scheme: Electing Participants) Regulations 2001(1) are amended as follows.

(2) In regulation 1(2) (interpretation), after the definition of “home State investor-compensation scheme”, insert—

““insurance intermediary” means an insurance intermediary (within the meaning of Article 2(5) of the insurance mediation directive) or a reinsurance intermediary (within the meaning of Article 2(6) of that Directive);”.

(3) In regulation 2 (persons not to be regarded as relevant persons)—

(a) at the end of paragraph (a), omit “and”; and

(b) after paragraph (b), insert—

• “; and

  (c)

  any insurance intermediary.”.

(4) In regulation 3(1) (persons who may elect to participate)—

(a) at the end of sub-paragraph (a), omit “and”; and

(b) after sub-paragraph (b), insert—

• “; and

  (c)

  any insurance intermediary which is not an investment firm or a credit institution.”.

(5) In regulation 4 (persons in respect of whom inspection under section 224 does not apply)—

(a) at the end of paragraph (a), omit “and”; and

(b) after paragraph (b), insert—

• “; and

  (c)

  any insurance intermediary.”.

(1)

S.I. 2001/1783.