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Valid from 01/01/2016
28.—(1) The Payment Services Regulations 2009 M1 are amended as follows.
(2) In regulation 19(15) (safeguarding requirements) in the definition of “authorised insurer” for “Article 6 of the First Council Directive 73/239/EEC of 24th July 1973 on the business of direct insurance other than life insurance” substitute “ Article 14 of 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) to carry out non-life insurance activities as referred to in Article 2(2) of that Directive ”.
Marginal Citations
M1S.I. 2009/209, to which there are amendments not relevant to these Regulations.