# The Financial Services and Markets Act 2000 (Fourth Motor Insurance Directive) Regulations 2002, Regulation 3: Rights of action


In regulation 6 of the Financial Services and Markets Act 2000 (Rights of Action) Regulations 2001 (cases in which contravention of a rule is actionable at the suit of a person who is not a private person)—
(a) after paragraph (3)(c) insert—
“(d) the rule that has been contravened requires a relevant authorised person to respond to a claim for compensation within a specified time limit, or to pay interest in specified circumstances in respect of any such claim.”;
and
(b) for paragraph (4) substitute—
“(4) In this regulation—
(a) “relevant authorised person” means an authorised person with a Part IV permission—
(i) to effect or to carry out relevant contracts of insurance; or
(ii) to manage the underwriting capacity of a Lloyd’s syndicate as a managing agent, the members of which effect or carry out relevant contracts of insurance underwritten at Lloyd’s;
where a “relevant contract of insurance” means a contract of insurance against damage arising out of or in connection with the use of motor vehicles on land (other than carrier’s liability);
(b) “rule” has the meaning given by section 150(4) of the Act; and
(c) “specified” means specified in rules.”

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Source: https://www.legislation.gov.uk/uksi/2002/2706/regulation/3 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-fourth-motor-insurance-directive-regulations-2002/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.