Proceeds of Crime Act 2002U.K.
This section has no associated Explanatory Memorandum
23.—(1) Schedule 9 to the Proceeds of Crime Act 2002 M1 is amended as follows.
(2) In paragraph 1(1)(c) for “the Life Assurance Directive” substitute “ the Solvency 2 Directive ”.
(3) In paragraph 3(1)—
(a)omit the definition of “the Life Assurance Consolidation Directive”;
(b)insert at the appropriate place—
““the Solvency 2 Directive” means 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);”.
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