The Financial Services and Markets Act 2000 (Amendment) (EU Exit) Regulations 2019

The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001

This adran has no associated Memorandwm Esboniadol

183.—(1) The Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001(1) are amended as follows.

(2) In regulation 1(2) (citation, commencement and interpretation) omit the definitions of “State of the commitment” and “State in which the risk is situated”.

(3) Omit regulation 2 (meaning of “commitment”).

(4) For regulation 3(2)(a) (transfer of an insurance business) substitute—

“(a)published in—

(i)the London, Edinburgh and Belfast Gazettes, and

(ii)two national newspapers in the United Kingdom;”.

(5) In regulation 4 (transfer of an insurance business)—

(a)in paragraph (2) for “regulation 3(2)(a)(ii), (iii) and (iv), (b) and (c)” substitute “regulation 3(2)(a)(ii), (b) and (c)”;

(b)omit paragraph 3.