# The Risk Transformation Regulations 2017, Regulation 9: Transformer vehicles which are not Solvency 2 special purpose vehicles


(1) In this regulation—
(a) “non-Solvency 2 transformer vehicle” means a transformer vehicle which is authorised under Part 4A of FSMA in relation to the activity specified in article 13A of the Regulated Activities Order, but which is not a special purpose vehicle; and
(b) “special purpose vehicle” has the meaning given by Article 13(26) of the Solvency 2 Directive.
(2) The PRA must make rules under Part 9A of FSMA (rules and guidance) which impose requirements on non-Solvency 2 transformer vehicles which are equivalent to the requirements imposed by directly applicable regulations made under paragraphs (2) and (2a) of Article 211 of the Solvency 2 Directive on special purpose vehicles authorised for the purposes of that Article.

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Source: https://www.legislation.gov.uk/ukdsi/2017/9780111160596/regulation/9 (the official version)
Page: https://openlegislation.uk/draft-risk-transformation-regulations-2017/regulation-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.