{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-109",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000/section-109.json",
  "legislation": "ukpga/2000/8",
  "legislation_title": "Financial Services and Markets Act 2000",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000",
  "path": "section/109",
  "kind": "section",
  "number": "109",
  "heading": "Scheme reports: insurance business transfer schemes",
  "text": "(1) An application under section 107 in respect of an insurance business transfer scheme must be accompanied by a report on the terms of the scheme (“a scheme report”).\n(2) A scheme report may be made only by a person—\n(a) appearing to the appropriate regulator to have the skills necessary to enable him to make a proper report; and\n(b) nominated or approved for the purpose by the appropriate regulator.\n(3) A scheme report must be made in a form approved by the appropriate regulator.\n(4) Where the appropriate regulator is the PRA, it must consult the FCA before—\n(a) nominating or approving a person under subsection (2)(b), or\n(b) approving a form under subsection (3).\n(5) Subsection (6) applies where the appropriate regulator is the FCA and either—\n(a) the transferee is a PRA-authorised person, or\n(b) the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.\n(6) The FCA must consult the PRA before—\n(a) nominating or approving a person under subsection (2)(b), or\n(b) approving a form under subsection (3).",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in s. 109 substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 3(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 109(4)-(6) inserted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 6 para. 3(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Pt. 7 substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 2; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "S. 109 heading substituted (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 1 para. 7; S.I. 2014/377, art. 2(1)(a), Sch. Pt. 1"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "S. 109 applied (1.12.2001) by S.I. 2001/3626, arts. 1, 3(a)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2000/8/section/109",
    "retrieved_at": "2026-10-29T09:21:21.899993+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}