SCHEDULE 1Amendments to primary legislation

PART 2Amendments to other primary legislation

Proceeds of Crime Act 2002

23.

(1)

Schedule 9 to the Proceeds of Crime Act 2002 M1 is amended as follows.

(2)

In paragraph 1(1)(c) for “the Life Assurance Directive” substitute “ the Solvency 2 Directive ”.

(3)

In paragraph 3(1)—

(a)

omit the definition of “the Life Assurance Consolidation Directive”;

(b)

insert at the appropriate place—

““the Solvency 2 Directive” means Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);”.