478.—(1) The Industry-Wide Coal Staff Superannuation Scheme Regulations 1994 are amended as follows.
(2) In clause 15 of the Schedule (terms of Trust Deed) for sub-clause (2)(b) substitute—
“(b)“securities” means—
(i)shares,
(ii)instruments creating or acknowledging indebtedness,
(iii)instruments giving entitlement to investments,
(iv)certificates representing securities.”.
(3) After sub-clause (2) of that clause, insert—
“(3) The definition of “securities” in sub-clause (2)(b) must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that Schedule; and
(c)Schedule 2 to that Act.”.
(4) In rule 1.1 of the Overriding Appendix (GMP Model Rules) for the definition of “insurer” substitute—
““insurer” means—
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of long-term insurance, or
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 (as a result of qualifying for authorisation under paragraph 12(1) of that Schedule) to effect or carry out contracts of long-term insurance;”.
(5) After rule 1.1 of that Appendix insert—
“1.1A The definition of “insurer” in rule 1.1 must be read with—
(a)section 22 of the Financial Services and Markets Act 2000;
(b)any relevant order under that section; and
(c)Schedule 2 to that Act.”.