The Insurance Distribution (Regulated Activities and Miscellaneous Amendments) Order 2018

Specified activities: general U.K.

3.  In article 4 (specified activities: general)—

(a) for paragraph (4A)(1) substitute—

“(4A) Where a person, other than an ancillary insurance intermediary carrying out insurance distribution activities falling within Article 1.3 of the insurance distribution directive (the text of which is set out in Part 1 of Schedule 4)—

(a) for remuneration, takes up or pursues insurance distribution, or reinsurance distribution, in relation to a risk or commitment located in an EEA State, and

(b) in doing so would be treated as carrying on an activity of a specified kind by a provision of this Part but for an exclusion in any of articles 30, 66, 67 and 72AA,

that exclusion is to be disregarded (and accordingly that person is to be treated as carrying on an activity of the kind specified by the provision in question).”, and

(b) for paragraph (5)(2) substitute—

“(5) In this article—

“ancillary insurance intermediary” has the meaning given by Article 2.1(4) of the insurance distribution directive, the text of which is set out in Part 4 of Schedule 4;

“insurance distribution” has the meaning given by Articles 2.1(1) and 2.2 of the insurance distribution directive, the text of which is set out in Parts 2 and 5 of Schedule 4, respectively; and

“reinsurance distribution” has the meaning given by Articles 2.1(2) and 2.2 of the insurance distribution directive, the text of which is set out in Parts 3 and 5 of Schedule 4, respectively.”.

Commencement Information

I1 Art. 3 in force at 23.5.2018 for specified purposes, see art. 1(2)(a)

I2 Art. 3 in force at 1.10.2018 in so far as not already in force, see art. 1(2)(b)

(1)

Paragraph (4A) was inserted by S.I. 2003/1476 and amended by S.I. 2014/1292.

(2)

Paragraph (5) was amended by S.I. 2003/1476 and S.I. 2006/3384.