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Application provision

1.1 The changes to this rule are effective from 23:00 on 31/12/2020.

Unless otherwise stated, this Part applies to:

  1. (1) a UK Solvency II firm;
  2. (2) in accordance with Insurance General Application 3, the Society, as modified by 5;
  3. (3) in accordance with Insurance General Application 3, a managing agent, as modified by 5;
  4. (4) a third country branch undertaking (other than a Swiss general insurer) in relation to the activities of the third country branch that are subject to the regulatory system;
  5. (4A) a third country insurance services provider in relation to the activities carried out in the UK that are subject to the regulatory system; and
  6. (5) a UK ISPV, in accordance with 6.

2.1

10/12/2018

For the purposes of this Part, the following are certification functions

  1. (1) a function performed for a firm by a key function holder at the firm;
  2. (2) a function performed by a material risk taker at a large firm.

2.2

10/12/2018

A function is only a certification function to the extent that the function relates to a regulated activity carried on by a firm.