{
  "url": "https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023/regulation-12",
  "json_url": "https://openlegislation.uk/insurance-and-reinsurance-undertakings-prudential-requirements-regulations-2023/regulation-12.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/12",
  "kind": "regulation",
  "number": "12",
  "heading": "Effect of designation: reinsurance contracts",
  "text": "(1) Where regulations are in force under regulation 11 in respect of an overseas jurisdiction in relation to this regulation, the PRA must treat a reinsurance contract entered into by an insurance undertaking or reinsurance undertaking with an overseas reinsurance undertaking in that jurisdiction in the same manner as a non-overseas reinsurance contract for the purposes of the prudential regulation of the insurance undertaking or reinsurance undertaking.\n(2) In this regulation, “non-overseas reinsurance contract” means a reinsurance contract entered into by an insurance undertaking or reinsurance undertaking with an insurance undertaking or reinsurance undertaking.",
  "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"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2023/1347/regulation/12",
    "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."
}