SCHEDULE 2Amendments to secondary legislation

Pension Protection Fund (Entry Rules) Regulations 200522

1

The Pension Protection Fund (Entry Rules) Regulations 2005 M1 are amended as follows.

2

In regulation 1(3) (interpretation)—

a

omit the following definitions—

i

“the first non-life insurance directive”;

ii

“the life insurance directive”;

iii

“the third non-life insurance 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);

c

in the definition of “EEA insurer” for the words from “(within the meaning of Article 2” to the end of the definition substitute “ (within the meaning of Article 2 of the Solvency 2 Directive) which has received authorisation under Article 14 of the Solvency 2 Directive from its home state regulator; ”;

d

in the definition of “EEA regulator” for the words from “means a competent authority” to the end of the definition substitute “ means a supervisory authority (within the meaning of Article 13(10) of the Solvency 2 Directive) of an EEA state ”.