The Solvency 2 Regulations 2015

Financial Services and Markets Act 2000 (Regulated Activities) Order 2001

11.—(1) The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001(1) is amended as follows.

(2) In article 3(1) (interpretation), in the definition of “contract of insurance”—

(a) in paragraph (e) for “article 1(2)(e) of the first life insurance directive (collective insurance etc.)” substitute “Article 2(3)(b)(v) of the Solvency 2 Directive”;

(b) in paragraph (f) for “article 1(3) of the first life insurance directive (social insurance)” substitute “Article 2(3)(c) of the Solvency 2 Directive”.

(3) In article 11(2) (community co-insurers) for “the Council Directive of 30 May 1978 on the co-ordination of laws, regulations and administrative provisions relating to Community co-insurance (No 78/473/EEC)” substitute “Article 190 of the Solvency 2 Directive”.

(4) In paragraph (2) of article 72A (information society services)—

(a) omit sub-paragraphs (a) and (b);

(b) insert at the end of paragraph (2) “the insurance falls within the scope of the Solvency 2 Directive.”.

(5) In Schedule 1 (contracts of insurance)—

(a) in paragraph VIII (collective insurance etc) for “article 1(2)(e) of the first life insurance directive” substitute “Article 2(3)(b)(v) of the Solvency 2 Directive”;

(b) in paragraph IX (social insurance) for “article 1(3) of the first life insurance directive” substitute “Article 2(3)(c) of the Solvency 2 Directive”.

(1)

S.I. 2001/544; relevant amending instruments are S.I. 2002/1776 and 2004/3379