1.—(1) In this Schedule—
“the 2001 Regulations” means the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001(1);
“the 2001 Order” means the Financial Services and Markets Act 2000 (Control of Business Done at Lloyd’s) Order 2001(2);
“the Act” means the Financial Services and Markets Act 2000;
“transitional insurance business transfer scheme” means an insurance business transfer scheme which satisfies both of the following conditions—
Condition 1 is that, before exit day, the relevant fee has been paid;
Condition 2 is that a person has, before exit day, been nominated or approved under section 109(2)(b) of the Act (nomination or approval of person to make scheme report by appropriate regulator)(3).
(2) In Condition 1 of the definition of “transitional insurance business transfer scheme” in sub-paragraph (1) the “relevant fee” means the fee required to be paid by a person applying for an insurance business transfer scheme under Part 7 of the Act under any provision of the Fees Part of the rulebook made by the PRA under the Act in force immediately before exit day.
S.I. 2001/3625; as amended by S.I. 2007/3255, 2008/1467, 2009/1390, 2011/1265, 2013/472 and 2015/575.
S.I. 2001/3626; as amended by S.I. 2008/1725, 2013/472, 2013/1765.
Section 109 was amended by paragraph 3 of Schedule 6 to the Financial Services Act 2012 (c. 21).