Term
Definition
Letter: A
accident
(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph 1 of Part I of Schedule 1 to the Regulated Activities Order (Contracts of general insurance), providing fixed pecuniary benefits or benefits in the nature of indemnity (or a combination of both) against risks of the person insured or, in the case of a contract made under section 140, 140A or 140B of the Local Government Act 1972 (or, in Scotland, section 86(1) of the Local Government (Scotland) Act 1973), a person for whose benefit the contract is made:
(a) sustaining injury as the result of an accident or of an accident of a specified class; or
(b) dying as a result of an accident or an accident of a specified class; or
(c) becoming incapacitated in consequence of disease or of disease of a specified class;
including contracts relating to industrial injury and occupational disease but excluding contracts within paragraph 2 of Part I of Schedule 1 to the Regulated Activities Order (Sickness) and contracts within paragraph IV of Part II of that Schedule (Permanent health). - 01/12/2004
acting as the depositary or sole director of an open-ended investment company
the regulated activity, specified in article 51(1)(c) of the Regulated Activities Order (Establishing etc a collective investment scheme), of acting as the depositary or sole director of an open-ended investment company.
- 01/12/2004
administering a home finance transaction
- 01/07/2009
administering a home purchase plan
the regulated activity, specified in article 63F(2) of the Regulated Activities Order, which is in summary: administering a home purchase plan where the plan was entered into by way of business on or after 6 April 2007.
- 06/04/2007
administering a home reversion plan
the regulated activity, specified in article 63B(2) of the Regulated Activities Order, which is in summary: administering a home reversion plan where the plan was entered into on or after 6 April 2007.
- 06/04/2007
administering a regulated lifetime mortgage contract
the regulated activity, specified in article 61(2) of the Regulated Activities Order, which is in summary: administering a regulated mortgage contract (which is a lifetime mortgage) where the contract was entered into on or after 31 October 2004.
- 01/12/2004
administering a regulated mortgage contract
the regulated activity, specified in article 61(2) of the Regulated Activities Order, which is in summary: administering a regulated mortgage contract where the contract was entered into on or after 31 October 2004.
- 01/12/2004
administering a regulated sale and rent back agreement
the regulated activity, specified in article 63J(2) of the Regulated Activities Order, which is in summary any of the following:
(a) notifying the agreement seller of changes in payment due under a regulated sale and rent back agreement or of other matters of which that agreement requires him to be notified;
(b) taking any necessary steps for the purpose of making payments to the agreement seller under that agreement; and
(c) taking any necessary steps for the purposes of collecting or recovering payments due under that agreement from the agreement seller;
but a person is not to be treated as administering a regulated sale and rent back agreement because he has, or exercises, a right to take action for the purposes of enforcing that agreement (or to require that such action is or is not taken);and in relation to a person who acquires obligations or rights under a regulated sale and rent back agreement, an activity is a specified kind of activity for the purposes of this definition only if the agreement was entered into by the agreement provider (rather than the obligations or rights acquired) on or after 1 July 2009.- 01/07/2009
advising on a home finance transaction
- 01/07/2009
advising on a home purchase plan
the regulated activity, specified in article 53C of the Regulated Activities Order, which is in summary: advising a person if the advice:
(b) is advice on the merits of his:
(i) entering into a particular home purchase plan; or
(ii) varying the terms of a home purchase plan entered into by him on or after 6 April 2007 in such a way as to vary his obligations under that plan.
- 06/11/2006
advising on a home reversion plan
the regulated activity, specified in article 53B of the Regulated Activities Order, which is in summary: advising a person if the advice:
(a) is given to him in his capacity as reversion occupier or plan provider or potential reversion occupier or potential plan provider; and
(b) is advice on the merits of his:
(i) entering into a particular home reversion plan; or
(ii) varying the terms of a home reversion plan entered into by him on or after 6 April 2007 in such a way as to vary his obligations under that plan.
- 06/11/2006
advising on investments
the regulated activity, specified in article 53 of the Regulated Activities Order (Advising on investments), which is in summary: advising a person if the advice is:
(a) given to the person in his capacity as an investor or potential investor, or in his capacity as agent for an investor or a potential investor; and
(b) advice on the merits of his doing any of the following (whether as principal or agent):
(i) buying, selling, subscribing for or underwriting a particular investment which is a security or relevant investment (that is, any designated investment, funeral plan contract, pure protection contract, general insurance contract or right to or interests in a funeral plan contract); or
(ii) exercising any right conferred by such an investment to buy, sell, subscribe for or underwrite such an investment.
(2) (in (Approved Persons) and APER) the regulated activity specified in article 53 (Advising on investments) of the Regulated Activities Order. For these purposes, advising on investments includes any activities that would be included but for the exclusion in article 72AA (Managers of UCITS and AIFs) of the Regulated Activities Order.
- 06/07/2006
Annual Accounts
(1) the Council Directive of 19 December 1991 concerning the annual accounts and consolidated accounts of insurance undertakings (No. 91/674/EEC).
(2) (in UPRU) accounts prepared to comply with:
(a) the Companies Acts 1985 to 1989, and their equivalent in Northern Ireland, where these provisions are applicable; or
(b) the Companies Act 2006; or
(c) other statutory obligations.
- 06/06/2008
annual audited fixed expenditure
(in UPRU) has the meaning given in UPRU 2.1.3 R (Annual audited fixed expenditure).
- 01/01/2007
approved reinsurance to close
(a) a reinsurance to close effected before 1 January 2005; or
(b) an agreement under which members of a syndicate in one syndicate year ("the reinsured members") agree with the members of that syndicate in a later syndicate year or the members of another
syndicate ("the reinsuring members") that the reinsuring members will discharge, or procure the discharge of, or indemnify the reinsured members against, all known and unknown insurance business liabilities of the reinsured members arising out of the insurance business carried on by the reinsured members in that syndicate year that is:
(i) effected after 1 January 2005; and
(ii) not a balance transfer between two syndicate years where the syndicate has only one member and the member is the same in each of those years.
- 01/01/2005
approved stock lending transaction
a stock lending transaction in respect of which the conditions in
INSPRU 3.2.36 R
have been met.
- 31/12/2006
arranging (bringing about) a home finance transaction
- 01/07/2009
arranging (bringing about) a home purchase plan
the regulated activity, specified in article 25C(1) of the Regulated Activities Order, which is in summary: making arrangements for another person to:
(b) vary the terms of a home purchase plan entered into by him as home purchaser on or after 6 April 2007.
- 06/11/2006
arranging (bringing about) a home reversion plan
the regulated activity, specified in article 25B(1) of the Regulated Activities Order, which is in summary: making arrangements for another person to:
(b) vary the terms of a home reversion plan entered into by him as reversion occupier or as plan provider on or after 6 April 2007.
- 06/11/2006
asset management company
a management company within the meaning of Article 1a(2) of the UCITS Directive, as well as an undertaking the registered office of which is outside the EEA and which would require authorisation in accordance with Article 5(1) of the UCITS Directive if it had its registered office within the EEA.
- 01/01/2007