Paragraph 7
Notwithstanding paragraph 6, and subject to paragraph 8, the admission agreement must further provide that where the level of risk identified by the assessment is such as to require it, the admission body shall enter into an indemnity or bond in a form approved by the administering authority with—
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 M1 to accept deposits or to effect and carry out contracts of general insurance;
a person who does not require permission under that Act to accept deposits, by way of business, in the United Kingdom.
Annotations
Textual amendments
- F1
Sch. 2 Pt. 3 para. 7(b) omitted (31.12.2020) by virtue of The EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018 (S.I. 2018/1149), reg. 1(3), Sch. para. 76 (with reg. 4); 2020 c. 1, Sch. 5 para. 1(1)
Marginal citations
- M1
- M2
There are amendments to paragraphs 12 and 15 of the Schedule which are not relevant to these Regulations.