PART 3Amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001
Article 33B (provision of information – contracts of insurance)128
1
Article 33B220 (provision of information – contracts of insurance) is amended as follows.
2
In paragraph (4)—
a
for the definition of “insurance intermediary” substitute—
“insurance intermediary” means a person other than—
- a
an insurance or reinsurance undertaking or an employee of such an undertaking, or
- b
an ancillary insurance intermediary,
who, for remuneration, takes up or pursues the activity of insurance distribution;
b
for the definition of “reinsurance intermediary” substitute—
“reinsurance intermediary” means a person other than—
- a
a reinsurance undertaking, or
- b
an employee of a reinsurance undertaking,
who, for remuneration, takes up or pursues the activity of reinsurance distribution;
3
After that paragraph insert—
5
In paragraph (4)—
“ancillary insurance intermediary”, “insurance distribution” and “reinsurance distribution” have the same meaning as in article 4;
“remuneration” means any commission, fee, charge or other payment, including an economic benefit of any kind or any other financial or non-financial advantage or incentive offered or given.