Prospective

PART 2 U.K.PASSPORTING

Passport rights—definitions U.K.

2.—(1) In section 425(1) of the Act (expressions relating to authorisation elsewhere in the single market)(1), in paragraph (a), after ““insurance directives”,”, insert ““insurance mediation directive”,”.

(2) In Schedule 3 to the Act (EEA passport rights)(2)—

(a) in paragraph 1 (the single market directives)—

(i) at the end of sub-paragraph (c), omit “and”; and

(ii) at the end of sub-paragraph (d), insert—

• “; and

  (e)

  the insurance mediation directive.”;

(b) after paragraph 4, insert—

“The insurance mediation directive U.K.

4A.   “The insurance mediation directive” means the European Parliament and Council Directive of 9th December 2002 on insurance mediation (No. 2002/92/EC).”;

(c) in paragraph 5 (EEA firm)—

(i) for “head office”, substitute “relevant office”;

(ii) at the end of sub-paragraph (c), omit “or”; and

(iii) at the end of sub-paragraph (d), insert—

• “; or

  (e)

  an insurance intermediary (as defined in Article 2.5 of the insurance mediation directive), or a reinsurance intermediary (as defined in Article 2.6) which is registered with its home state regulator under Article 3.”;

(d) after paragraph 5, insert—

“5A.   In paragraph 5, “relevant office” means—

(a) in relation to a firm falling within sub-paragraph (e) of that paragraph which has a registered office, its registered office;

(b) in relation to any other firm, its head office.”;

(e) for paragraph 6 (EEA authorisation), substitute—

“6.   “EEA authorisation” means—

(a) in relation to an EEA firm falling within paragraph 5(e), registration with its home state regulator under Article 3 of the insurance mediation directive;

(b) in relation to any other EEA firm, authorisation granted to an EEA firm by its home state regulator for the purpose of the relevant single market directive.”;

(f) in paragraph 7 (EEA right), for “head office”, substitute “relevant office”;

(g) after paragraph 7, insert—

“7A.   In paragraph 7, “relevant office” means—

(a) in relation to a person who has a registered office and whose entitlement is subject to the conditions of the insurance mediation directive, his registered office;

(b) in relation to any other person, his head office.”;

(h) in paragraph 10 (UK firm), for “head office”, substitute “relevant office”; and

(i) after paragraph 10, insert—

“10A.   In paragraph 10, “relevant office” means—

(a) in relation to a firm whose EEA right derives from the insurance mediation directive and which has a registered office, its registered office;

(b) in relation to any other firm, its head office.”.

Commencement Information

I1 Reg. 2 in force at 14.1.2005, see reg. 1(1)

(1)

Amended by S.I. 2000/2952.

(2)

Amended by the Enterprise Act 2002 (c . 40) Schedule 25, S.I. 2000/2952 and S.I. 2001/1376.