(1)In sections 19 to 24, “insurance company” means a body corporate that has permission to carry on the regulated activity of effecting or carrying out contracts of insurance under—
(a)Part 4A of the Financial Services and Markets Act 2000 (permission to carry on regulated activities), or
(b)paragraph 15 of Schedule 3 to that Act (EEA passport rights), as it has effect as a result of section 409 of that Act (Gibraltar).
(2)But “insurance company” does not include—
(a)a registered society within the meaning of the Co-operative and Community Benefit Societies Act (Northern Ireland) 1969 (c. 24 (N.I.)),
(b)a friendly society within the meaning of the Friendly Societies Act 1992,
(c)a registered society within the meaning of the Co-operative and Community Benefit Societies Act 2014, or
(d)a member of Lloyd’s that is not a company within the meaning of the Companies Acts (see sections 1(1) and 2(1) of the Companies Act 2006).
(3)In this section “regulated activity” has the meaning given by section 22 of the Financial Services and Markets Act 2000, taken with Schedule 2 to that Act and any order under that section.
Commencement Information
I1S. 26 not in force at Royal Assent, see s. 91(2)
I2S. 26 in force at 4.1.2023 by S.I. 2022/1359, reg. 2