The Financial Services and Markets Act 2000 (Insolvency) (Definition of Insurer) Order 2001

• Citation: S.I. 2001/2634
• Sections: 2

Section 1

(1) This Order may be cited as the Financial Services and Markets Act 2000 (Insolvency) (Definition of “Insurer”) Order 2001 and comes into force on the day on which section 19 of the Act comes into force.

(2) In this Order, the “ Regulated Activities Order ” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 .

Section 2

In Part XXIV of the Act (insolvency) , except section 360 (administration orders in relation to insurers), “insurer” means any person who is carrying on a regulated activity of the kind specified by article 10(1) or (2) of the Regulated Activities Order (effecting and carrying out contracts of insurance) but who is not—

(a) exempt from the general prohibition in respect of that regulated activity;

(b) a friendly society; or

(c) a person who effects or carries out contracts of insurance all of which fall within paragraphs 14 to 18 of Part I of Schedule 1 to the Regulated Activities Order in the course of, or for the purposes of, a banking business.