3.—(1) For the purposes of Part 4 of the Act, an insurer(1) is a relevant insurer in a financial year if the insurer—
(a)(i)effected any home insurance in the period of 12 months immediately preceding the first day of the financial year, and
(ii)has permission under the Financial Services and Markets Act 2000(2) which allows the insurer to effect and carry out home insurance on the first day of the financial year; or
(b)is a member of the Society (within the meaning of the Lloyd’s Act 1982(3)) and, as such a member—
(i)effected any home insurance during the period of 12 months immediately preceding the first day of the financial year; and
(ii)on the first day of the financial year, intends to effect further home insurance during the financial year.
(2) For the purposes of paragraph (1)(b), an insurer who falls within paragraph (1)(b)(i) shall be taken to fall within paragraph (1)(b)(ii), unless the contrary is shown by the insurer to the reasonable satisfaction of the FR Scheme administrator.