PART 8 MISCELLANEOUS AMENDMENTS TO PRIMARY LEGISLATION

Administration of Justice Act 1985 (c. 61)

298 Meaning of “authorised insurer”
For section 21(5) of the Administration of Justice Act 1985 (professional indemnity and compensation: meaning of “authorised insurer”) substitute—

“(5) “Authorised 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 of a relevant class;
(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 of a relevant class; or
(c) a person who does not fall within sub-paragraph (i) or (ii) and who may lawfully effect or carry out contracts of insurance of a relevant class in a member State other than the United Kingdom.
(6) A contract of insurance is of a relevant class for the purposes of subsection (5) if it insures against a risk arising from—
(a) accident;
(b) credit;
(c) legal expenses;
(d) general liability to third parties;
(e) sickness;
(f) suretyship; or
(g) miscellaneous financial loss.
(7) Subsections (5) and (6) 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.”

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Section 21(5) was substituted by S.I. 1992/2890, regulation 12(4).