PART 9AMENDMENTS TO SECONDARY LEGISLATION
The Stakeholder Pension Schemes Regulations 2000 (S.I. 2000/1403)
Interpretation of the 2000 Regulations: general595
1
In paragraph (3) of regulation 1 of the Stakeholder Pension Schemes Regulations 2000 (Citation, commencement and interpretation)—
a
the definition of “insurance company” is revoked, and in the same place insert—
“insurer” means—
- a
a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance, or
- b
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 of that Schedule) to effect or carry out contracts of insurance;
b
for the definition of “securities” substitute—
“securities” means investments of the following kinds—
- a
shares,
- b
instruments creating or acknowledging indebtedness,
- c
government and public securities,
- d
instruments giving entitlements to investments,
- e
certificates representing securities,
but does not include shares in a unit trust;
2
After paragraph (3) of that regulation insert—
3A
The definitions of “insurer” and “securities” in paragraph (3) 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.
3
In regulation 8(5) of those Regulations for “insurance company” substitute “insurer”.
4
In regulation 15(3) of those Regulations for “insurance company” substitute “insurer”.