19.—(1) The Friendly Societies Act 1992 M1 is amended as follows.
(2) In section 52(2)(c)(i) (applications to court) for “the general insurance or the life assurance consolidation Directive” substitute “ the Solvency 2 Directive ”.
(3) In subsection (1) of section 119 (general interpretation)—
(a)omit the following definitions—
(i)“the life assurance consolidation Directive”;
(ii)“the first general insurance Directive”;
(iii)“the general insurance Directives”;
(iv)“the second general insurance Directive”;
(v)“the third general insurance Directive”;
(b)insert at the appropriate place—
““the Solvency 2 Directive” means Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II);”.
(4) Omit subsections (1A), (1D) and (3) of section 119.
(5) In Schedule 15 (amalgamations, transfers of engagements and conversion: supplementary)—
(a)in paragraph 15(1)(c)(vi) for “Article 25 or 26 of the first general insurance Directive” substitute “ Article 166 or 167 of the Solvency 2 Directive ”;
(b)in paragraph 15A(1)(c)(v) for “Article 55 or 56 of the life assurance consolidation Directive” substitute “ Article 166 or 167 of the Solvency 2 Directive ”.
Marginal Citations