# The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019, Paragraph 2


Regulation 2 applies as if—
(a) for the definition of “branch” there were substituted—
““branch” means a permanent presence of a UK insurer or a Gibraltarian insurer which is located in the territory of a country other than—
(a) the United Kingdom (in the case of a UK insurer);
(b) Gibraltar (in the case of a Gibraltarian insurer);”;
(b) in the definition of “directive reorganisation measure”, the reference in Article 268(1)(c) of the Solvency 2 Directive to competent authorities were a reference to competent authorities in the United Kingdom or in Gibraltar;
(c) in the definition of “directive winding up proceedings”, the reference in Article 268(1)(d) of the Solvency 2 Directive to competent authorities were a reference to competent authorities in the United Kingdom or in Gibraltar;
(d) the definitions of “EEA creditor”, “EEA insurer”, “EEA regulator” and “EEA State” were omitted;
(e) in the appropriate places there were inserted—
““Gibraltarian insurer” means an undertaking pursuing the activity of direct insurance (within the meaning of the Solvency 2 Directive) which has received authorisation under the law of Gibraltar which was relied on by Gibraltar before exit day to implement Article 14 or Article 162 of the Solvency 2 Directive from the Gibraltarian regulator;
“Gibraltarian regulator” means the Gibraltar Financial Services Commission;”;
(f) for the definition of “home state regulator” there were substituted—
““home state regulator” in relation to a Gibraltarian insurer, means the Gibraltar Financial Services Commission;”;
(g) the definition of “official language” were omitted;
(h) in the definition of “the Solvency 2 Directive”, at the end there were inserted “as it had effect immediately before exit day”.

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Source: https://www.legislation.gov.uk/ukdsi/2019/9780111180594/schedule/1/paragraph/2 (the official version)
Page: https://openlegislation.uk/draft-gibraltar-miscellaneous-amendments-eu-exit-regulations-2019/schedule-1/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.