- Latest available (Revised)
- Original (As made)
This is the original version (as it was originally made).
34.—(1) This regulation has effect for the purposes of regulation 33(2)(a).
(2) A bond is entered into in accordance with this regulation only if it is endorsed by—
(a)an authorised insurance company; or
(b)an authorised deposit-taker.
(3) A person may enter into the bond under—
(a)arrangements made by the Public Guardian; or
(b)other arrangements which are made by the person entering into the bond or on his behalf.
(4) The Public Guardian may make arrangements with any person specified in paragraph (2) with a view to facilitating the provision by them of bonds which persons required to give security to the Public Guardian may enter into.
(5) In this regulation—
“authorised insurance company” means—
a person who has permission under Part 4 of the Financial Services and Markets Act 2000(1) to effect or carry out contracts of insurance;
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 to effect or carry out contracts of insurance;
a person who carries on insurance market activity (within the meaning given in section 316(3) of that Act); and
“authorised deposit-taker” means—
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to accept deposits;
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 to accept deposits.
(6) The definitions of “authorised insurance company” and “authorised deposit-taker” must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order(2) under that section; and
(c)Schedule 2 to that Act.
Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.
Original (As Enacted or Made): The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.
Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Instrument and provides information about its policy objective and policy implications. They aim to make the Statutory Instrument accessible to readers who are not legally qualified and accompany any Statutory Instrument or Draft Statutory Instrument laid before Parliament from June 2004 onwards.
Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:
Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:
Click 'View More' or select 'More Resources' tab for additional information including: