Regulation 9 Insurance companies that may provide protected rights by way of annuities
For the purposes of paragraph 9(8) of Schedule 1 to the Act (annuity complies with paragraph 9 if it is provided by an insurance company which satisfies prescribed conditions) the prescribed conditions are that the insurance company—
(a)
is one to which Part II of the Insurance Companies Act 1982f1 applies and which is authorised under section 3 or 4 of that Act to carry on ordinary long-term insurance business as defined in that Act; and
(b)
offers annuities, with a view to purchase of those annuities by schemes in order to give effect to the protected rights of their members, without having regard to the sex or marital status of those members either in making the offers or in determining the rates at which the annuities are paid.
Annotations
Footnotes
- f1