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5.—(1) The The Financial Services and Markets Act 2000 (Control of Transfers of Business Done at Lloyd’s) Order 2001(1) is amended as follows.
(2) In article 3(a)(2), after “sections” insert “103A,”.
(3) In article 4(c)(3), after “PRA” insert “and the FCA”.
(4) In article 5(4)—
(a)in paragraph (1)(a), omit “and”;
(b)after paragraph (1)(a), insert—
“(aa)the members concerned were authorised persons with permission to carry on the regulated activities of effecting a contract of insurance as principal and carrying out a contract of insurance as principal; and”;
(c)after paragraph (2), insert—
“(2A) Paragraphs 2, 3, 4 and 5 of Part 1 of Schedule 12 to the Act apply as if the members concerned were authorised persons with permission to carry on the regulated activities of effecting a contract of insurance as principal and carrying out a contract of insurance as principal.”.
Amended by S.I. 2008/1725.
Amended by S.I. 2008/1725 and S.I. 2013/472.
Amended by S.I. 2008/1725.
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