Paragraph 1 I1

at the beginning of sub-paragraph (1) insert “Subject to sub-paragraph (1A)”;

after sub-paragraph (1) insert—

“(1A)

The administrator of an insurer which effects or carries out contracts of insurance shall, at the request of the scheme manager of the Financial Services Compensation Scheme, provide any assistance identified by the scheme manager as being necessary—

(a)

to enable the scheme manager to administer the compensation scheme in relation to contracts of insurance, and

(b)

to enable the scheme manager to secure continuity of insurance in relation to contracts of long-term insurance.

(1B)

For the purposes of this Schedule—

(a)

“compensation scheme” has the same meaning as in section 213 of the Financial Services and Markets Act 2000;

(b)

“contracts of insurance” and “contracts of long-term insurance” have the same meaning as in article 3 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001^f1;

(c)

“scheme manager” means the body corporate established by the Financial Services Authority under section 212 of the Financial Services and Markets Act 2000.”.