Article 326 Judicial pensions: transfer of accrued benefitsI1

Schedule 13 to the Courts and Legal Services Act 1990 (transfer of accrued benefits) is amended as follows.

In paragraph 1 of Schedule 1A^f1 (to be inserted in the Judicial Pensions Act 1981), the existing provision becomes sub-paragraph (1).

In that sub-paragraph, for the definition of “authorised insurance company” substitute—

• ““authorised insurer” means—

  1. (i)

     a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of long-term insurance, or

  2. (ii)

     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 long-term insurance;”.

After that sub-paragraph, insert—

“(2)

The definition of “authorised insurer” in sub-paragraph (1) must be read with—

(a)

section 22 of the Financial Services and Markets Act 2000;

(b)

any relevant order under that section;

(c)

Schedule 2 to that Act.”.

In paragraph 6(2)(c), for “insurance companies” substitute “insurers”.

In paragraph 11(3), in paragraph (a) of the definition of “qualifying scheme” for “insurance company” substitute “insurer”.