PART 9 AMENDMENTS TO SECONDARY LEGISLATION

The Industry-wide Coal Staff Superannuation Scheme Regulations 1994 (S.I. 1994/2973)

478 Interpretation of the Trust Deed and Superannuation Scheme
1 The Industry-Wide Coal Staff Superannuation Scheme Regulations 1994 are amended as follows.
2 In clause 15 of the Schedule (terms of Trust Deed) for sub-clause (2)(b) substitute—

“(b) “securities” means—
(i) shares,
(ii) instruments creating or acknowledging indebtedness,
(iii) instruments giving entitlement to investments,
(iv) certificates representing securities.”

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3 After sub-clause (2) of that clause, insert—

“3 The definition of “securities” in sub-clause (2)(b) must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that Schedule; and
(c) Schedule 2 to that Act.”

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4 In rule 1.1 of the Overriding Appendix (GMP Model Rules) for the definition of “insurer” substitute—

““insurer” means—
(a) a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of long-term insurance, or
(b) an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to effect or carry out contracts of long-term insurance;”

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5 After rule 1.1 of that Appendix insert—

“1.1A The definition of “insurer” in rule 1.1 must be read with—
(a) section 22 of the Financial Services and Markets Act 2000;
(b) any relevant order under that section; and
(c) Schedule 2 to that Act.”

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