Article 591 Qualifying arrangementsI1

In paragraph (1) of regulation 11 of the Pension Sharing (Implementation and Discharge of Liability) Regulations 2000 (qualifying arrangements), for sub-paragraphs (a) to (c) substitute—

“(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

(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.”.

For paragraph (2) of that regulation substitute—

“(2)

Paragraph (1)(a) and (b) 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.”.