PART 1GENERAL
Citation, commencement and interpretation1
1
This Order may be cited as the Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2003.
2
Articles 22 to 27 of this Order come into force on 1st January 2004.
3
The other provisions of this Order come into force—
a
in so far as they relate to contracts of long-term care insurance, on 31st October 2004;
b
for all other purposes, on 14th January 2005.
4
In this Order—
“the Act” means the Financial Services and Markets Act 2000;
“contract of long-term care insurance” means a contract of insurance (within the meaning of the principal Order) in respect of which the following conditions are met—
- a
the purpose (or one of the purposes) of the policy is to protect the policyholder against the risk of becoming unable to live independently without assistance in consequence of a deterioration of mental or physical health, injury, sickness or other infirmity;
- b
benefits under the contract are payable in respect of—
- i
services,
- ii
accommodation, or
- iii
goods,
which are (or which is) necessary or desirable due to a deterioration of mental or physical health, injury, sickness or other infirmity;
- i
- c
the contract is expressed to be in effect until the death of the policyholder (except that the contract may give the policyholder the option to surrender the policy); and
- d
the benefits under the contract are capable of being paid throughout the life of the policyholder;
- a
“the principal Order” means the Financial Services and Markets Act 2000 (Regulated Activities) Order 20012.