Article 174 Qualifying investments for an insurance componentI1

In regulation 9(3) (qualifying investments for an insurance component) for sub-paragraph (c) substitute—

“(c)

the policy evidences or secures a contract of insurance which—

(i)

falls within paragraph I or III of Part II of Schedule 1 to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, or

(ii)

would fall within either of those paragraphs if the insurer was a company with permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance;”.