# The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001, Article 17: Insurance business carried on overseas before commencement

Extent: E+W+S+N.I.

(1) A person (“A”) who was, immediately before commencement—
(a) authorised under the Insurance Companies Act; and
(b) carrying on overseas insurance business,
is to be treated as having, at commencement, a Part IV permission to carry on any corresponding overseas regulated activities in the country or territory where he carried on that overseas insurance business.
(2) In this article—
“corresponding overseas regulated activities” means regulated activities which—
(a)A carries on after commencement by virtue of continuing to carry on his overseas insurance business; and
(b)A is regarded as carrying on in the United Kingdom by virtue of section 418;
“overseas insurance business” means business which constituted insurance business within the meaning of section 2 of the Insurance Companies Act and which A was carrying on in a country or territory outside the United Kingdom without contravening either paragraph 1 or 5 of Schedule 2G to that Act.

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Source: https://www.legislation.gov.uk/uksi/2001/2636/article/17 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-transitional-provisions-authorised-persons-etc-order-2001/article-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.