For the purpose of this Part—

• “contract of insurance” has the same meaning as in article 3(1) of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001;

• “establishment” means a branch;

• “home state regulator” has the meaning given by regulation 21;

• F2“payment service” has the same meaning as in regulation 2 of the Payment Services Regulations 2017;

• “pre-existing contract” means a contract entered into before—

  1. a

     in the case of a person who satisfies the conditions in regulation 32 or 39, the earlier of—

     1. i

        the day on which regulation 47 first applies to the person, or

     2. ii

        where applicable, the day on which regulation 28 or 34 first applies to the person;

  2. b

     in any other case, the relevant day;

• “regulated activity” has the same meaning as in section 22 of the 2000 Act;

• “regulator” means the Financial Conduct Authority or the Prudential Regulation Authority;

• “relevant day” means—

  1. a

     in the case of a person who satisfies the conditions in regulation 30 or 36, F3IP completion day;

  2. b

     in the case of a person who satisfies the conditions in regulation 31 or 37, the day on which regulation 8 ceases to apply;

  3. c

     in the case of a person who satisfies the conditions in regulation 32, the earlier of—

     1. i

        the day on which regulation 47 first applies to the person, or

     2. ii

        where applicable, the day on which regulation 28 or 34 first applies to the person;

  4. d

     in the case of a person who satisfies the conditions in regulation 38, the day on which regulation 11 ceases to apply;

  5. e

     in the case of a person to whom regulation 39 applies, the earlier of—

     1. i

        the day on which regulation 28 or 34 first applies to the person, or

     2. ii

        where applicable, the day on which regulation 47 first applies to the person.