The Financial Services and Markets Act 2000 (Control of Business Transfers)(Requirements on Applicants)(Amendment) Regulations 2008

• Citation: S.I. 2008/1467
• Sections: 2

Section 1 Citation and commencement

These Regulations may be cited as the Financial Services and Markets Act 2000 (Control of Business Transfers)(Requirements on Applicants)(Amendment) Regulations 2008 and come into force on 30th June 2008.

Section 2 Amendment to the 2001 Regulations

The Financial Services and Markets Act 2000 (Control of Business Transfers)(Requirements on Applicants) Regulations 2001 are amended as follows—

(a) at the end of regulation 3(2)(a)(iv) omit “and”;

(b) at the end of regulation 3(2)(b) add—

; and

(c) sent—

(i) to every reinsurer of the authorised person concerned (within the meaning of section 105(2) of the Act) any of whose contracts of reinsurance (in whole or part) are to be transferred by the scheme; or

(ii) in a case where such a contract has been placed with or through a person authorised to act on behalf of the reinsurer, then to that person; or

(iii) in a case where such a contract has been placed with more than one reinsurer, then to the person or persons authorised to act on behalf of those reinsurers or groups of reinsurers.

(c) in regulation 4(2) for “and (b)” substitute “, (b) and (c)”.