Article 492 Meaning of “insurance company”I1

Schedule C4^f1 to the Local Government Pension Scheme Regulations 1995 is amended as follows.

In paragraph 23 of that Schedule (supplemental) for the definition of “insurance company” substitute—

• ““insurance company” means—

  1. (a)

     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. (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 long-term insurance;”.

After paragraph 23 insert—

“24

The definition of “insurance company” in paragraph 23 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.”.