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
3 Saving for Gibraltar groups and undertakings
(1) The relevant legislation applies in relation to a Gibraltar group or a Gibraltar undertaking on and after 31st December 2024, as if it had not been revoked, and paragraph (2) applies. (2) The relevant legislation is to be read with any modifications necessary to ensure that the relevant legislation continues to apply in relation to a Gibraltar group or a Gibraltar undertaking on and after 31st December 2024 as it had effect immediately before 31st December 2024 in relation to a Gibraltar group or a Gibraltar undertaking, as if it had not been revoked. (3) The “relevant legislation” means— (a) Part 3 of the Solvency 2 Regulations 2015 (groups); (b) regulations 4C and 4D of the Solvency 2 Regulations 2015 (powers and procedure in relation to Gibraltar undertakings); and (c) any other legislation revoked by the Commencement Regulations which is referred to in, applies by virtue of, or modifies the legislation listed in sub-paragraphs (a) and (b). (4) This regulation ceases to have effect immediately after Schedule 2A to the Financial Services and Markets Act 2000 comes fully into force. (5) In this regulation— “Commencement Regulations” means the Financial Services and Markets Act 2023 (Commencement No. 6) Regulations 2024; “Gibraltar group” means a group that— falls within regulation 9A(a), (b) or (c) of the Solvency 2 Regulations 2015, and includes a Gibraltar undertaking falling within regulation 9A(a), (b) or (c) of the Solvency 2 Regulations 2015; “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; a “Gibraltar undertaking” is either of the following— a Gibraltar insurance undertaking, or a Gibraltar reinsurance undertaking;
3 Saving for Gibraltar groups and undertakings
(1) The relevant legislation applies in relation to a Gibraltar group or a Gibraltar undertaking on and after 31st December 2024, as if it had not been revoked, and paragraph (2) applies. (2) The relevant legislation is to be read with any modifications necessary to ensure that the relevant legislation continues to apply in relation to a Gibraltar group or a Gibraltar undertaking on and after 31st December 2024 as it had effect immediately before 31st December 2024 in relation to a Gibraltar group or a Gibraltar undertaking, as if it had not been revoked. (3) The “relevant legislation” means— (a) Part 3 of the Solvency 2 Regulations 2015 (groups); (b) regulations 4C and 4D of the Solvency 2 Regulations 2015 (powers and procedure in relation to Gibraltar undertakings); and (c) any other legislation revoked by the Commencement Regulations which is referred to in, applies by virtue of, or modifies the legislation listed in sub-paragraphs (a) and (b). (4) This regulation ceases to have effect immediately after Schedule 2A to the Financial Services and Markets Act 2000 comes fully into force. (5) In this regulation— “Commencement Regulations” means the Financial Services and Markets Act 2023 (Commencement No. 6) Regulations 2024; “Gibraltar group” means a group that— falls within regulation 9A(a), (b) or (c) of the Solvency 2 Regulations 2015, and includes a Gibraltar undertaking falling within regulation 9A(a), (b) or (c) of the Solvency 2 Regulations 2015; “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; a “Gibraltar undertaking” is either of the following— a Gibraltar insurance undertaking, or a Gibraltar reinsurance undertaking;
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.