{
  "url": "https://openlegislation.uk/gibraltar-miscellaneous-amendments-eu-exit-regulations-2019/schedule-1/paragraph-2",
  "json_url": "https://openlegislation.uk/gibraltar-miscellaneous-amendments-eu-exit-regulations-2019/schedule-1/paragraph-2.json",
  "legislation": "uksi/2019/680",
  "legislation_title": "The Gibraltar (Miscellaneous Amendments) (EU Exit) Regulations 2019",
  "legislation_url": "https://openlegislation.uk/gibraltar-miscellaneous-amendments-eu-exit-regulations-2019",
  "path": "schedule/1/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "Regulation 2 applies as if—\n(a) in paragraph (1)—\n(i) for the definition of “branch” there were substituted—\n““branch” means a permanent presence of a UK insurer or a Gibraltarian insurer which is located in the territory of a country other than—\n(a) the United Kingdom (in the case of a UK insurer);\n(b) Gibraltar (in the case of a Gibraltarian insurer);”;\n(ii) in the definition of “directive reorganisation measure”, the reference in Article 268(1)(c) of the Solvency 2 Directive to competent authorities were a reference to competent authorities in the United Kingdom or in Gibraltar;\n(iii) in the definition of “directive winding up proceedings”, the reference in Article 268(1)(d) of the Solvency 2 Directive to competent authorities were a reference to competent authorities in the United Kingdom or in Gibraltar;\n(iv) the definitions of “EEA creditor”, “EEA insurer”, “EEA regulator” and “EEA State” were omitted;\n(v) in the appropriate places there were inserted—\n““Gibraltarian insurer” means an undertaking pursuing the activity of direct insurance (within the meaning of the Solvency 2 Directive) which has received authorisation under the law of Gibraltar which was relied on by Gibraltar before IP completion day to implement Article 14 or Article 162 of the Solvency 2 Directive from the Gibraltarian regulator;\n“Gibraltarian regulator” means the Gibraltar Financial Services Commission;”;\n(vi) for the definition of “home state regulator” there were substituted—\n““home state regulator” in relation to a Gibraltarian insurer, means the Gibraltar Financial Services Commission;”;\n(vii) the definition of “official language” were omitted;\n(viii) in the definition of “the Solvency 2 Directive”, at the end there were inserted “as it had effect immediately before IP completion day”.\n(b) in paragraph (2)—\n(i) in sub-paragraphs (a) and (b), for “the relevant EEA State” both times it occurs, there were substituted “Gibraltar”;\n(ii) the words after sub-paragraph (b) were omitted.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 1 para. 2 inserted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 60(3)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 1 para. 2(a)-(h) renumbered as Sch. 1 para. 2(a)(i)-(viii) (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 60(3)(b)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 1 para. 2(e) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 40(g)(i)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Words in Sch. 1 para. 2(h) substituted (30.12.2020) by The Financial Services and Economic and Monetary Policy (Consequential Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1301), regs. 1, 3, Sch. para. 40(g)(ii)"
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Sch. 1 para. 2(b) inserted (31.12.2020 immediately before IP completion day) by The Securities Financing Transactions, Securitisation and Miscellaneous Amendments (EU Exit) Regulations 2020 (S.I. 2020/1385), regs. 1(4), 60(3)(c)"
    },
    {
      "type": "M",
      "label": "M1",
      "text": "Regulation 2 was amended by S.I. 2007/108 and 2015/575. There are other amendments which are not relevant to this instrument."
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 2 in force on IP completion day (in accordance with 2020 c. 1, Sch. 5 para. 1(1)), see reg. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2019/680/schedule/1/paragraph/2",
    "retrieved_at": "2026-10-28T22:43:15.427074+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."
}