Application and Definitions


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 small non-directive insurer; or
  2. (2) a run-off firm.


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 16 December 2015.

FCA activities

means a function which would, except for SUP TP 8.2.3R of the FCA Handbook, be an FCA governing function.

run-off firm

has the meaning given in Non-Solvency II Firms – Transitional Measures.

scope of responsibilities form

has the meaning given in Non-Solvency II Firms - Senior Insurance Managers Regime - Applications and Notifications as at 7 March 2016.