The Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 1993

Interpretation

2.—(1) In these Regulations—

“the 1985 Act” means the Companies Act 1985(1);

“director” includes, in the case of a body which is not a company, any corresponding officer of that body;

“enactment” includes any subordinate legislation within the meaning of section 21(1) of the Interpretation Act 1978(2), other than these Regulations;

“industrial and provident society” means a registered society within the meaning given by section 74 of the Industrial and Provident Societies Act 1965(3);

“qualifying body” shall be construed in accordance with paragraphs (2) and (3) below;

and other expressions shall have the meanings ascribed to them by the 1985 Act.

(2) Subject to paragraph (3) below, a body incorporated in or formed under the law of any part of Great Britain is a qualifying body for the purposes of these Regulations if it—

(a)is incorporated by or registered under any public general Act of Parliament,

(b)is required to be authorised under section 2 of the Insurance Companies Act 1982(4), and

(c)is not required by any enactment to prepare accounts under Part VII of the 1985 Act (accounts and audit).

(3) A body is not a qualifying body for the purposes of these Regulations if it—

(a)is excluded from the scope of Council Directive 73/239/EEC(5) by Article 3 of that Directive, or

(b)is referred to in Article 2(2) or (3) or 3 of Council Directive 79/267/EEC(6).

(4) Any reference in these Regulations to the accounts required by or prepared under regulation 3 below are references to the annual accounts, the annual report and the auditors' report required by or prepared under paragraph (1) of that regulation.