PART 7ENACTMENTS RELATING TO SCOTLAND

CHAPTER IIsecondary legislation

The Teachers' Superannuation (Additional Voluntary Contributions) (Scotland) Regulations 1995 (S.I. 1995/2814)

Meaning of “insurer”247

1

Regulation 9 of the Teachers' Superannuation (Additional Voluntary Contributions) (Scotland) Regulations 1995 (investment of contributions) is amended as follows.

2

In paragraphs (1) and (2), for “insurance company” wherever it appears substitute “insurer”.

3

For paragraph (3) substitute—

3

In this regulation “insurer” means—

a

a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of long-term insurance, or

b

an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect or carry out contracts of long-term insurance.

4

After paragraph (3) insert—

4

Paragraph (3) must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section;

c

Schedule 2 to that Act.