- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
1.—(1) In this Schedule—
“the 2001 Regulations” means the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001(1);
“the 2001 Order” means the Financial Services and Markets Act 2000 (Control of Business Done at Lloyd’s) Order 2001(2);
“the Act” means the Financial Services and Markets Act 2000;
“transitional insurance business transfer scheme” means an insurance business transfer scheme which satisfies both of the following conditions—
Condition 1 is that, before exit day, the relevant fee has been paid;
Condition 2 is that a person has, before exit day, been nominated or approved under section 109(2)(b) of the Act (nomination or approval of person to make scheme report by appropriate regulator)(3).
(2) In Condition 1 of the definition of “transitional insurance business transfer scheme” in sub-paragraph (1) the “relevant fee” means the fee required to be paid by a person applying for an insurance business transfer scheme under Part 7 of the Act under any provision of the Fees Part of the rulebook made by the PRA under the Act in force immediately before exit day.
S.I. 2001/3625; as amended by S.I. 2007/3255, 2008/1467, 2009/1390, 2011/1265, 2013/472 and 2015/575.
S.I. 2001/3626; as amended by S.I. 2008/1725, 2013/472, 2013/1765.
Section 109 was amended by paragraph 3 of Schedule 6 to the Financial Services Act 2012 (c. 21).
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: