Article 208 Transfer of engagements: long term businessI1

United Kingdom

(1)

In Schedule 15 to the Friendly Societies Act 1992, paragraph 15A^f1 is amended as follows.

(2)

In sub-paragraph (1)(c)—

(a)

for paragraph (ii) substitute—

“(ii)

a UK firm which has an EEA right deriving from any of the insurance directives;”;

(b)

for paragraph (iii) substitute—

“(iii)

an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to the Financial Services and Markets Act 2000;”;

(c)

paragraph (iv) is repealed.

(3)

For sub-paragraph (6), substitute—

“(6)

In this paragraph “the relevant authority” means—

(a)

if the transferee falls within paragraph (1)(c)(iii), its home state regulator;

(b)

if the transferee falls within paragraph (1)(c)(v), the Authority or other supervisory body responsible for the supervision;

(c)

in any other case, the Authority.”.

Annotations

Commencement

I1: Art. 208 in force at 1.12.2001, see art. 1

Footnotes

f1: Paragraph 15A was inserted by S.I. 1993/2519 regulation 5, substituted by S.I. 1994/1984, regulation 25, Schedule 4, paragraph 4 and has been amended by S.I. 1997/2849 and S.I. 2001/2617.