{
  "url": "https://openlegislation.uk/overseas-life-insurance-companies-regulations-2006/regulation-40",
  "json_url": "https://openlegislation.uk/overseas-life-insurance-companies-regulations-2006/regulation-40.json",
  "legislation": "uksi/2006/3271",
  "legislation_title": "The Overseas Life Insurance Companies Regulations 2006",
  "legislation_url": "https://openlegislation.uk/overseas-life-insurance-companies-regulations-2006",
  "path": "regulation/40",
  "kind": "regulation",
  "number": "40",
  "heading": "Modification of the Finance Act 2002",
  "text": "In Schedule 26—\n(a) in the case of an EEA firm or a Treaty firm, in paragraph 4 (contracts excluded by virtue of their underlying subject matter), in sub-paragraph (2A)—\n(i) after paragraph (a) insert—\n“(aa) the company is an EEA firm or a Treaty firm within the meaning of Chapter 1 Part 12 of ICTA;”, and\n(ii) in paragraph (b) for the words “is an approved derivative for the purposes of Rule 4.3.5 of the Integrated Prudential Sourcebook” substitute “is a derivative instrument falling within article 23.3 of the EC Consolidated Life Directive (EC/2002/83)”.\n(b) in paragraph 28 (transactions within groups), in sub-paragraph (2)(d) omit “by paragraph 6(9) of Schedule 19AC to that Act”.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Paragraph (2A) was substituted by articles 2 and 4 of S.I. 2005/646, articles 2 and 5 of S.I. 2005/2082 and articles 3 and 5 of S.I. 2005/3440."
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "uksi/2007/2146",
      "affecting_title": "The Overseas Life Insurance Companies (Amendment) Regulations 2007"
    },
    {
      "type": "words substituted",
      "affecting": "uksi/2007/2146",
      "affecting_title": "The Overseas Life Insurance Companies (Amendment) Regulations 2007"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2006/3271/regulation/40",
    "retrieved_at": "2026-10-29T04:13:42.770247+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."
}