Interpretation2

1

In these Regulations—

  • “insurance undertaking” has the meaning given in section 417(1) of FSMA 20002;

  • “matching adjustment permission” has the meaning given in regulation 3(2);

  • “PRA rules” means the rules made by the PRA under FSMA 2000, as they have effect from time to time;

  • “regulation 42 approval” means an approval referred to regulation 3(1) as it has effect immediately before 30th June 2024;

  • “reinsurance undertaking” has the meaning given in section 417(1) of FSMA 2000.

2

Any other term used in these Regulations which is used in PRA rules applicable to insurance and reinsurance undertakings has the same meaning as in those rules.