Article 554 Payments by insurersI1

Paragraph 5 of Schedule 1 to the Social Security (Recovery of Benefits) (Northern Ireland) Order 1997 is amended as follows.

The existing provision becomes sub-paragraph (1).

In that sub-paragraph—

After that sub-paragraph, insert—

“(2)

“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; or

(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.

(3)

Sub-paragraph (2) 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.”.