PART 9AMENDMENTS TO SECONDARY LEGISLATION

The European Parliamentary (United Kingdom Representatives) Pensions (Additional Voluntary Contributions Scheme) (No 2) Order 1995 (S.I. 1995/739)

Purchase of retirement benefits from an authorised insurer488

1

Article 9 of the European Parliamentary (United Kingdom Representatives) Pensions (Additional Voluntary Contributions Scheme) (No 2) Order 1995 (purchase of pensions on retirement) is amended as follows.

2

In paragraph (2)320 of that article, for “an institution” (each time it appears) substitute “a person”.

3

In that paragraph for “being either” substitute “being an office or branch in the United Kingdom of either”.

4

For sub-paragraphs (a), (b) and (c) of that paragraph substitute—

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(1) of that Schedule) to effect or carry out contracts of long-term insurance.

5

After paragraph (2) insert—

3

Sub-paragraphs (a) and (b) of paragraph (2) must be read with—

a

section 22 of the Financial Services and Markets Act 2000;

b

any relevant order under that section; and

c

Schedule 2 to that Act.