Regulation 2 Interpretation

In these Regulations—

• “the Companies Accounts Regulations” means the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008 M1;

• “the appropriate audit authority” means—

  1. (a)

     the Secretary of State, or

  2. (b)

     if the Secretary of State has delegated functions under section 1252 of the Companies Act 2006 M2 to a body whose functions include receiving the equivalent notice under section 522 or 523 of that Act, that body;

• F1“the Authority” means—

  1. (a)

     in relation to an undertaking which is a PRA-authorised person (within the meaning of the Financial Services and Markets Act 2000), the Prudential Regulation Authority;

  2. (b)

     in any other case, the Financial Conduct Authority;

• “director” includes, in the case of an undertaking which is not a company, any corresponding officer of that body;

• “enactment” includes—

  1. (a)

     an enactment contained in subordinate legislation, other than these Regulations,

  2. (b)

     an enactment contained in, or in an instrument made under, an Act of the Scottish Parliament,

  3. (c)

     an enactment contained in, or in an instrument made under, Northern Ireland legislation, and

  4. (d)

     an enactment contained in, or in an instrument made under, a Measure or Act of the National Assembly for Wales;

• “friendly society” has the same meaning as in the Financial Services and Markets Act 2000 M3;

• F2...

• “insurance undertaking” shall be construed in accordance with paragraphs (2) and (3).

• F3“registered society” means—

  1. (a)

     a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014; or

  2. (b)

     F4a registered society within the meaning given by section 1A(1) of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969.

Subject to paragraph (3), a body incorporated in or formed under the law of any part of the United Kingdom is an insurance undertaking for the purposes of these Regulations if it—

Paragraph (2)(b) must be read with—

A body is not an insurance undertaking for the purposes of these Regulations if it—

Any reference in these Regulations to the accounts required by or prepared under regulation 3 are references to the annual accounts, F10the strategic report, the directors' report and the auditor's report required by or prepared under paragraph (1) of that regulation.

Any reference in these Regulations to “financial year” in relation to an insurance undertaking means—

Except as otherwise provided in these Regulations, words and expressions used in the Companies Act 2006 have the same meaning in these Regulations as they have in that Act.