# The Financial Services and Markets Act 2000 (Transitional Provisions) (Authorised Persons etc. ) Order 2001, Article 26: EC companies carrying on direct insurance through UK branch

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

(1) This article applies to an EEA firm which was, immediately before commencement—
(a) an EC company within the meaning of the Insurance Companies Act; and
(b) by reason of compliance with the requirements of paragraph 1 of Schedule 2F to that Act, able to carry on direct insurance business through a branch in the United Kingdom without contravening section 2(1) of that Act.
(2) The firm is to be treated as satisfying the establishment conditions in paragraph 13 of Schedule 3 and, accordingly, is to be treated—
(a) as qualifying for authorisation under Schedule 3 as a result of paragraph 12 of that Schedule; and
(b) as being an “incoming firm” for the purposes of Part XIII of the Act.
(3) For the purposes of paragraph 15(1) of Schedule 3 as it applies to the firm, each activity which immediately before commencement the firm was—
(a) by reason of compliance with the requirements of paragraph 1 of Schedule 2F to the Insurance Companies Act, able to carry on through a branch in the United Kingdom without contravening that paragraph, and
(b) able so to carry on without contravening paragraph 2 of that Schedule,
is a permitted activity.
(4) The reference in paragraph 15(2) of Schedule 3 to the consent notice is to be read, in relation to the firm, as a reference to—
(a) the notice and certificate under paragraph 1(2)(a) of Schedule 2F to the Insurance Companies Act; and
(b) any later notices under paragraph 2 of that Schedule that are relevant.

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Source: https://www.legislation.gov.uk/uksi/2001/2636/article/26 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-transitional-provisions-authorised-persons-etc-order-2001/article-26
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.