1.—(1) The Schedule to the Competition Act 1998 (Small Agreements and Conduct of Minor Significance) Regulations 2000(1) is amended as follows.
(2) In paragraph 1—
(a)in the definition of “financial institution”, for “EEA” substitute “United Kingdom”;
(b)for the definition of “insurance undertaking” substitute—
““insurance undertaking” means—
an insurance undertaking carrying on the business of direct insurance of a class set out in Article 2 of, or Annex 1 to, Directive 2009/138/EC of the European Parliament and Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)(2);
a reinsurance undertaking; or
a third-country reinsurance undertaking;”;
(c)omit the “and” at the end of the definition of “insurance undertaking” and after that definition insert—
““reinsurance undertaking” means an undertaking which—
has its head office in the United Kingdom;
has permission under Part 4A of the Financial Services and Markets Act 2000(3) to carry on one or more regulated activities;
effects or carries out contracts of insurance that are limited to reinsurance contracts; and
would require authorisation in accordance with Article 14 of Directive 2009/138/EC, if the United Kingdom were a Member State;
“third-country reinsurance undertaking” means an undertaking which, if its head office were in the United Kingdom—
would require permission under Part 4A of the Financial Services and Markets Act 2000 to carry out regulated activities relating to reinsurance; and
immediately before exit day, would have required authorisation as a reinsurance undertaking in accordance with Article 14 of Directive 2009/138/EC; and”.
2.—(1) The Schedule to the Competition Act 1998 (Determination of Turnover for Penalties) Order 2000(4) is amended as follows.
(2) In paragraph 1—
(a)in the definition of “financial institution”, for “EEA” substitute “United Kingdom”;
(b)for the definition of “insurance undertaking” substitute—
““insurance undertaking” means—
an insurance undertaking carrying on the business of direct insurance of a class set out in Article 2 of, or Annex 1 to, Directive 2009/138/EC of the European Parliament and Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);
a reinsurance undertaking; or
a third-country reinsurance undertaking;”;
(c)omit the “and” at the end of the definition of “insurance undertaking” and after that definition insert—
““reinsurance undertaking” means an undertaking which—
has its head office in the United Kingdom;
has permission under Part 4A of the Financial Services and Markets Act 2000 to carry on one or more regulated activities;
effects or carries out contracts of insurance that are limited to reinsurance contracts; and
would require authorisation in accordance with Article 14 of Directive 2009/138/EC, if the United Kingdom were a Member State;
“third-country reinsurance undertaking” means an undertaking which, if its head office were in the United Kingdom—
would require permission under Part 4A of the Financial Services and Markets Act 2000 to carry out regulated activities relating to reinsurance; and
immediately before exit day, would have required authorisation as a reinsurance undertaking in accordance with Article 14 of Directive 2009/138/EC; and”.
3.—(1) The Competition Act 1998 (Appealable Decisions and Revocation of Notification of Excluded Agreements) Regulations 2004(5) are amended as follows.
(2) In regulation 2, for “parallel exemption” in both places it occurs substitute “retained exemption”.
4.—(1) The Schedule to the Competition Act 1998 (Competition and Markets Authority’s Rules) Order 2014(6) is amended as follows.
(2) In rule 1—
(a)for the definition of “infringement decision” substitute—
““infringement decision” means a decision of the CMA that the Chapter I prohibition or the Chapter II prohibition has been infringed;”;
(b)in the definition of “notice”—
(i)at the end of paragraph (b), insert “or”;
(ii)omit paragraph (d) and the “or” before it.
(3) In rule 2—
(a)in paragraph (1)—
(i)omit “Subject to paragraphs (2) and (3),”;
(ii)for the words from “any one or more” to the end substitute “the Chapter I prohibition or the Chapter II prohibition.”;
(b)omit paragraphs (2) and (3).
(4) In rule 4—
(a)in paragraph (2), omit “or section 65E(6)(a)(ii) or (b)”;
(b)in paragraph (5)—
(i)omit “or 65F(1)”;
(ii)for “, 28A, 65G or 65H” substitute “or 28A”.
(5) In rule 5—
(a)in paragraph (1), for “one or more” substitute “either or both”;
(b)in paragraph (2), for the words from “which one” to “considers” substitute “whether it considers the Chapter I prohibition or the Chapter II prohibition or both”;
(c)in paragraph (3), omit “or the prohibition in Article 101(1)”.
(6) In rule 9(1)(a), for the words from “one or more of” to “Article 102” substitute “the Chapter I prohibition or the Chapter II prohibition”.
(7) In rule 10—
(a)in paragraph (2), omit “or the prohibition in Article 101(1)”;
(b)in paragraph (4)—
(i)omit sub-paragraph (b) and the “or” at the end;
(ii)in sub-paragraph (c) omit “or the prohibition in Article 102”.
(8) In rule 11(a), for the words from “which one” to “considers” substitute “whether it considers the Chapter I prohibition or the Chapter II prohibition or both”.
(9) In rule 14—
(a)in paragraph (1), for the words from “to a case” to “Article 102” substitute “the Chapter I prohibition or the Chapter II prohibition to a case”;
(b)omit paragraphs (2) to (4).
(10) In rule 15, in paragraph (1) and in the heading, for “parallel exemption” substitute “retained exemption”.
(11) Omit rule 16.
(12) In rule 19—
(a)in paragraph (1)(a) omit “, 16(1) 16(3)(a)”;
(b)in paragraph (1)(b) omit “, 16(1), 16(3)(a)”.
5.—(1) The Competition Act 1998 (Concurrency) Regulations 2014(7) are amended as follows.
(2) In regulation 3—
(a)at the end of paragraph (a), insert “or”;
(b)omit paragraphs (c) and (d).
(3) In regulation 9(1)(a)—
(a)at the end of paragraph (i), insert “or”;
(b)omit paragraphs (iii) and (iv).
(4) In regulation 9(1)(g), for “parallel exemption” substitute “retained exemption”.
S.I. 2000/262; relevant amending instruments are S.I. 2013/3115 and 2015/575.
O.J. L 335, 17.12.2009, p. 1, as last amended by Directive (EU) 2018/843 (O.J. L 156, 19.6.2018).
Part 4A of the Financial Services and Markets Act 2008 ((sections 55A–55Z, 55Z1–55Z4) was substituted for Part IV (sections 40–55) by section 11(2) of the Financial Services Act 2012; there are amendments to Part 4A but none is relevant to these Regulations.
S.I. 2000/309; relevant amending instruments are S.I. 2004/1259, 2013/3115 and 2015/575.
S.I. 2004/1078; amended by S.I. 2014/549.