Application and Definitions


Unless otherwise stated, this Part applies to:

  1. (1) 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. (a) a UK Solvency II firm;
    2. (b) a third country branch undertaking (other than a Swiss general insurer); or
    3. (c) a UK ISPV;
  2. (2) the Society, as modified by 9; and
  3. (3) managing agents, as modified by 9.


In this Part, the following definitions shall apply:

commencement date

means 7 March 2016.

continued approval

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

effective date

means 19 August 2015.

FCA activities

means a function which would, except for any of the following provisions in SUP TP 7.2.3R of the FCA Handbook, be an FCA governing function:

    1. (1) Part 1 (Solvency II firms other than insurance special purpose vehicles and third-country insurance and reinsurance undertakings) Notes 1 and 2;
    2. (2) Part 2 (Insurance special purpose vehicles) Notes 1 and 2; and
    3. (3) Part 3 (Third-country insurance and reinsurance undertakings) Note 1.

scope of responsibilities form

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