# The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001, Article 298: Meaning of “authorised insurer”

Extent: E+W+S+N.I.

For section 21(5) of the Administration of Justice Act 1985 (professional indemnity and compensation: meaning of “authorised insurer”) substitute—
“(5) “Authorised insurer” means—
(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance of a relevant class;
(b) an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of insurance of a relevant class; or
(c) a person who does not fall within sub-paragraph (i) or (ii) and who may lawfully effect or carry out contracts of insurance of a relevant class in a member State other than the United Kingdom.
(6) A contract of insurance is of a relevant class for the purposes of subsection (5) if it insures against a risk arising from—
(a) accident;
(b) credit;
(c) legal expenses;
(d) general liability to third parties;
(e) sickness;
(f) suretyship; or
(g) miscellaneous financial loss.
(7) Subsections (5) and (6) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”.

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Source: https://www.legislation.gov.uk/uksi/2001/3649/article/298 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-consequential-amendments-and-repeals-order-2001/article-298
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.