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Paragraph 3 Insurance companiesF1

(1)

A company is excluded from being eligible if—

(a)

it carries on the regulated activity of effecting or carrying out contracts of insurance, and

(b)

it is not an exempt person in relation to that activity.

(2)

In this paragraph—

  • “exempt person”, in relation to a regulated activity, has the meaning given by section 417 of the Financial Services and Markets Act 2000;

  • “regulated activity” has the meaning given by section 22 of that Act, taken with Schedule 2 to that Act and any order under that section.

Annotations

Textual amendments

F1

Sch. ZA1 inserted (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 1 (with ss. 2(2), 5(2), 12)

Notes on Schedule ZA1

Modifications

C1

Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 6(1)(c) (with ss. 2(2), 5(2), Sch. 4 para. 1)

C2

Sch. ZA1 modified (temp.) (26.6.2020) by Corporate Insolvency and Governance Act 2020 (c. 12), s. 49(1), Sch. 4 para. 7(b) (with ss. 2(2), 5(2), Sch. 4 para. 1)