PART VITHIRD COUNTRY INSURERS

Interpretation of this Part48

1

In this Part—

a

“relevant measure”, in relation to a third country insurer, means

i

a winding up;

ii

an administration order made under paragraph 13 of Schedule B1 F1or under paragraph 14 of Schedule B1 to the 1989 Order;

or

iii

a decision of the court to reduce the value of one or more of the insurer’s contracts, in accordance with section 377 of the 2000 Act;

b

“third country insurer” means a person—

i

who has permission under the 2000 Act to effect or carry out contracts of insurance F2other than by virtue of regulation 8 or 11 of the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018; and

ii

whose head office is not in the United Kingdom F3....

2

In paragraph (1), the definition of “third country insurer” must be read with—

a

section 22 of the 2000 Act;

b

any relevant order made under that section; and

c

Schedule 2 to that Act.

Application of these Regulations to a third country insurer49

Parts III, IV and V of these Regulations apply where a third country insurer is subject to a relevant measure, as if references in those Parts to a UK insurer included a reference to a third country insurer.

Disclosure of confidential information: third country insurersF450

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