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Article 10B Solvency II firmsF1

(1)

“Solvency II firm” means—

(a)

an insurance undertaking within the meaning of Article 13(1) of the Solvency II Directive that is not—

(i)

an insurance undertaking falling under Article 308b(1) of the Solvency II Directive; or

(ii)

excluded from the scope of the Solvency II Directive by Section 2 of Chapter 1 of Title 1 of that Directive;

(b)

a reinsurance undertaking within the meaning of Article 13(4) of the Solvency II Directive that is not—

(i)

a reinsurance undertaking falling under Article 308b(1) of the Solvency II Directive; or

(ii)

excluded from the scope of the Solvency II Directive by Section 2 of Chapter 1 of Title 1 of that Directive;

(c)

a special purpose vehicle within the meaning of Article 13(26) of the Solvency II Directive;

(d)

a third country insurance undertaking within the meaning of Article 13(3) of the Solvency II Directive which has a branch in the United Kingdom; or

(e)

a third country reinsurance undertaking within the meaning of Article 13(6) of the Solvency II Directive which has a branch in the United Kingdom.

(2)

In this article “branch” has the meaning given in Article 13(11) of the Solvency II Directive.

Annotations

Textual amendments

F1

Arts. 10A, 10B inserted (1.10.2015) by The Financial Services (Banking Reform) Act 2013 (Transitional and Savings Provisions) (Amendment) Order 2015 (S.I. 2015/1660), arts. 1(1), 5