{
  "url": "https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023/regulation-10",
  "json_url": "https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023/regulation-10.json",
  "legislation": "uksi/2023/1347",
  "legislation_title": "The Insurance and Reinsurance Undertakings (Prudential Requirements) Regulations 2023",
  "legislation_url": "https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023",
  "path": "regulation/10",
  "kind": "regulation",
  "number": "10",
  "heading": "Interpretation",
  "text": "In this Part—\n“group” has the same meaning as in the glossary of the PRA rules;\n“insurance undertaking” has the meaning given in section 417(1) of FSMA 2000;\n“insurance group” means a group which contains one or more insurance undertakings or reinsurance undertakings;\n“overseas insurance undertaking” means an undertaking with its head office in an overseas jurisdiction which if it was carrying on its activities in the United Kingdom would require authorisation for the regulated activity of effecting or carrying out contracts of insurance as principal under FSMA 2000;\n“overseas jurisdiction” means a country or territory outside the United Kingdom ...;\n“overseas reinsurance undertaking” means an undertaking with its head office in an overseas jurisdiction which if it was carrying on its activities in the United Kingdom would require authorisation for the regulated activity of effecting or carrying out contracts of insurance that are limited to reinsurance contracts as principal under FSMA 2000;\n“PRA rules” means the rules made by the PRA under FSMA 2000, as they have effect from time to time;\n“reinsurance undertaking” has the meaning given in section 417(1) of FSMA 2000;\n“territory” includes the European Union and any other international organisation or authority comprising countries or territories.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 4 inserted (31.12.2024) by The Insurance and Reinsurance Undertakings (Overseas Insurance Regime, Transitional Provisions, etc.) Regulations 2024 (S.I. 2024/1116), regs. 1(2), 4"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in reg. 10 omitted (28.11.2025) by virtue of The Financial Services (Overseas Recognition Regime Designations) Regulations 2025 (S.I. 2025/1147), regs. 1(2), 7(2)"
    },
    {
      "type": "footnote",
      "label": "f1",
      "text": "1998 c. 11. Schedule 6A was inserted by section 13 of and Schedule 1 to the Bank of England and Financial Services Act 2016 (c. 14)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2023/1347/regulation/10",
    "retrieved_at": "2026-10-28T21:37:18.306343+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."
}