# The Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, Article 13A: Transformer vehicles: insurance risk transformation


It is a specified kind of activity for a transformer vehicle to assume a risk from an undertaking where—
(a) the undertaking assumes a risk under a contract of insurance (“the underlying risk”); and
(b) the assumption of risk by the transformer vehicle has the legal or economic effect of transferring some or all of the underlying risk to the transformer vehicle.

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Source: https://www.legislation.gov.uk/uksi/2001/544/article/13A (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-regulated-activities-order-2001/article-13A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.