OpenLegislation

Regulation 183 The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001C1I1

United Kingdom

(1)

The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 M1 are amended as follows.

(2)

In regulation 1(2) (citation, commencement and interpretation) omit the definitions of “State of the commitment” and “State in which the risk is situated”.

(3)

Omit regulation 2 (meaning of “commitment”).

(4)

For regulation 3(2)(a) (transfer of an insurance business) substitute—

“(a)

published in—

(i)

the London, Edinburgh and Belfast Gazettes, and

(ii)

two national newspapers in the United Kingdom;”.

(5)

In regulation 4 (transfer of an insurance business)—

(a)

in paragraph (2) for “regulation 3(2)(a)(ii), (iii) and (iv), (b) and (c)” substitute “ regulation 3(2)(a)(ii), (b) and (c) ”;

(b)

omit paragraph 3.

Annotations

Marginal citations

M1

S.I. 2001/3625; as amended by S.I. 2007/3255, 2008/1467, 2009/1390, 2011/1265, 2013/472 and 2015/575.

Modifications

C1

Pts. 3-6 modified in part (31.12.2020) by The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019 (S.I. 2019/680), regs. 1(2), 11(1)(4)(5) (with reg. 11(8)-(10)) (as amended by S.I. 2020/1301, regs. 1, 3, Sch. para. 40(f)); 2020 c. 1, Sch. 5 para. 1(1)

Commencement

I1

Reg. 183 in force at 31.12.2020 on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(3)