PART 9 AMENDMENTS TO SECONDARY LEGISLATION

The Occupational Pension Schemes (Member-nominated Trustees and Directors) Regulations 1996 (S.I. 1996/1216)

524 Interpretation of the 1996 Regulations
1 Regulation 2 of the Occupational Pension Schemes (Member-Nominated Trustees and Directors) Regulations 1996 (General interpretation) is amended as follows.
2 In paragraph (1) of that regulation—
(a) after the definition of “independently selected” insert—

““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;”

;
(b) in the definition of “relevant wholly insured scheme” for “an insurance company (as defined in section 96(1) of the Insurance Companies Act 1982)” substitute “an insurer”.
The definition of “relevant wholly insured scheme” was inserted by S.I. 1997/786, regulation 3, Schedule 1, paragraph 5(2)(d).
3 After paragraph (1) of that regulation insert—

“1A The definition of “insurer” in paragraph (1) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; or
(c) Schedule 2 to that Act.”

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