The Insurance and Reinsurance Undertakings (Prudential Requirements) (Amendment and Miscellaneous Provisions) Regulations 2024
Write the words of this act the way you think they should read. Solon shows your change as a redline against the published text and pins it to that exact text, so it can never be applied to wording you did not see.
Change 1
10 Amendments to Schedule 6 (threshold conditions)
In Schedule 6 (threshold conditions), in Part 1D (Part 4A permission: conditions for which the PRA is responsible in relation to insurers etc.), in paragraph 4A— (a) in sub-paragraph (7)— (i) for “third country insurance or reinsurance undertakings” substitute “overseas insurance undertakings or overseas reinsurance undertakings”; (ii) for “Gibraltarian insurance or reinsurance undertakings” substitute “Gibraltar insurance undertakings or Gibraltar reinsurance undertakings”; (iii) omit from “; and for these purposes” to the end. (b) after sub-paragraph (7) insert— (8) In this paragraph— “Gibraltar insurance undertaking” means an undertaking which— has its head office in Gibraltar; and is authorised by the Gibraltar Financial Services Commission to effect or carry out contracts of insurance (other than contracts of reinsurance) under paragraph 24 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “Gibraltar reinsurance undertaking” means an undertaking which— has its head office in Gibraltar; and is authorised by the Gibraltar Financial Services Commission to effect or carry out contracts of insurance that are limited to reinsurance contracts under paragraph 24 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “overseas insurance undertaking” means a person who— is established in a country or territory other than— the United Kingdom, or Gibraltar; is not an authorised person; is not an authorised person for the purposes of the Financial Services Act 2019 of Gibraltar; and effects or carries out contracts of insurance as principal; “overseas reinsurance undertaking” means a person who— is established in a country or territory other than— the United Kingdom, or Gibraltar; is not an authorised person; is not an authorised person for the purposes of the Financial Services Act 2019 of Gibraltar; and effects or carries out contracts of insurance that are limited to reinsurance contracts as principal. .
10 Amendments to Schedule 6 (threshold conditions)
In Schedule 6 (threshold conditions), in Part 1D (Part 4A permission: conditions for which the PRA is responsible in relation to insurers etc.), in paragraph 4A— (a) in sub-paragraph (7)— (i) for “third country insurance or reinsurance undertakings” substitute “overseas insurance undertakings or overseas reinsurance undertakings”; (ii) for “Gibraltarian insurance or reinsurance undertakings” substitute “Gibraltar insurance undertakings or Gibraltar reinsurance undertakings”; (iii) omit from “; and for these purposes” to the end. (b) after sub-paragraph (7) insert— (8) In this paragraph— “Gibraltar insurance undertaking” means an undertaking which— has its head office in Gibraltar; and is authorised by the Gibraltar Financial Services Commission to effect or carry out contracts of insurance (other than contracts of reinsurance) under paragraph 24 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “Gibraltar reinsurance undertaking” means an undertaking which— has its head office in Gibraltar; and is authorised by the Gibraltar Financial Services Commission to effect or carry out contracts of insurance that are limited to reinsurance contracts under paragraph 24 of Schedule 2 to the Financial Services Act 2019 of Gibraltar; “overseas insurance undertaking” means a person who— is established in a country or territory other than— the United Kingdom, or Gibraltar; is not an authorised person; is not an authorised person for the purposes of the Financial Services Act 2019 of Gibraltar; and effects or carries out contracts of insurance as principal; “overseas reinsurance undertaking” means a person who— is established in a country or territory other than— the United Kingdom, or Gibraltar; is not an authorised person; is not an authorised person for the purposes of the Financial Services Act 2019 of Gibraltar; and effects or carries out contracts of insurance that are limited to reinsurance contracts as principal. .
One line that says what changes, such as "Halve the dog tax".
Who it helps, what it costs, what it fixes. It is what persuades people to support it.
How this law is officially changed
Solon does not know this law's official route yet. The proposal is recorded all the same, and the route appears here once its source is added.
A proposal here is not law. Support on Solon is evidence that people want the change; the official route says what it takes to make it law.
Sign in to file your proposal. What you have written stays on this page.
Sign in to file itThink it through
Ask what your change would do, who would gain and who would bear a cost, and where something like it is already law. The assistant reads your draft as it stands, cites the law and the studies it finds, and takes no side. What you file stays yours.