Part

Large Non-Solvency II Firms – Senior Managers Regime – Transitional Provisions

Chapter

Application and Definitions

Printed on: 30/04/2024

Rulebook at: 10/12/2018

1

Application and Definitions

1.1

Unless otherwise stated, this Part applies to a firm that, on the effective date, has a Part 4A permission for effecting contracts of insurance or carrying out contracts of insurance and which will with effect from 1 January 2016 be:

  1. (1) a large non-directive insurer; or
  2. (2) a Swiss general insurer.
  • 15/02/2016

1.2

In this Part, the following definitions shall apply:

continued approval

means approval to perform a PRA senior management function under section 59 of FSMA, granted pursuant to a conversion notification.

effective date

means 12 December 2015.

FCA activities

means a function which would, except for Note 1 or Note 2 of Part 1 of the table in SUP TP 7.2.3R of the FCA Handbook, be an FCA governing function.

scope of responsibilities form

has the meaning given in Senior Insurance Managers Regime – Applications and Notifications as at 7 March 2016.

  • 10/12/2018