# The Mutual Societies (Transfers) Order 2009, Article 19: Crown Dependency mutual society

Extent: E+W+S+N.I.

(1) A mutual insurer is a Crown Dependency mutual society for the purposes of section 3 of the 2007 Act (transfers to subsidiaries of other mutuals).
(2) A mutual insurer is a body corporate which—
(a) is a cooperative or mutual undertaking;
(b) is established or operates in accordance with the laws of ... any of the Channel Islands or the Isle of Man;
(c) has no share capital;
(d) is not a wholly-owned subsidiary within the meaning of section 1159(2) of the Companies Act 2006; and
(e) is an insurer.
(3) In paragraph (2) “insurer” means—
(a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(b) an undertaking which—
(i) is incorporated in any of the Channel Islands or the Isle of Man, and
(ii) would satisfy the requirements for authorisation under the Financial Services and Markets Act 2000 as an insurer, within the meaning of section 339C(4)(b) of that Act if it had its registered office (or if it does not have a registered office, its head office) in the United Kingdom.
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/uksi/2009/509/article/19 (the official version)
Page: https://openlegislation.uk/mutual-societies-transfers-order-2009/article-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.