29.—(1) The Mutual Societies (Transfers) Order 2009 M1 is amended as follows.
(2) In article 19 (EEA mutual society)—
(a)in paragraph (3)—
(i)for sub-paragraph (a) substitute—
“(a)a direct life or non-life undertaking as referred to in Article 2 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) which is authorised under Article 14 of that Directive; or”;
(ii)in sub-paragraph (b)(ii) for “under either of the directives mentioned in sub-paragraph (a)” substitute “ under the Directive mentioned in sub-paragraph (a) as a direct life or non-life undertaking within the meaning of Article 2 of that Directive ”;
(b)omit paragraph (4).
Marginal Citations
M1S.I. 2009/509, to which there are amendments not relevant to these Regulations.