Payment Services Regulations 2009U.K.
This section has no associated Explanatory Memorandum
28.—(1) The Payment Services Regulations 2009 M1 are amended as follows.
(2) In regulation 19(15) (safeguarding requirements) in the definition of “authorised insurer” for “Article 6 of the First Council Directive 73/239/EEC of 24th July 1973 on the business of direct insurance other than life insurance” substitute “ Article 14 of 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) to carry out non-life insurance activities as referred to in Article 2(2) of that Directive ”.
Marginal Citations
M1S.I. 2009/209, to which there are amendments not relevant to these Regulations.