Status: You are viewing the version of the handbook as on 2009-03-31.

MIPRU TP 1 Transitional Provisions

MIPRU TP 1.1

(1)

(2) Material to which the transitional provision applies

(3)

(4) Transitional provision

(5) Transitional provision: dates in force

(6) Handbook provision: coming into force

11

MIPRU 4.4.4 R and MIPRU 4.4.8 R (3)

R

A firm is not required to include goodwill in its intangible assets until 14 January 2008.

From 31 October 2004 until 14 January 2008

31 October 2004

2

MIPRU 5.2.2 R and MIPRU 5.2.4 R

R

MIPRU 5.2.2 R and MIPRU 5.2.4 R have effect in respect of the use by a firm of the services of another person consisting of insurance mediation and provided from an establishment in an EEA State that has not implemented Article 3 (Registration) of the Insurance Mediation Directive2, as if the condition in paragraph (4) of MIPRU 5.2.2 R and the condition in paragraph (2) of MIPRU 5.2.4 R were a condition that the firm has no reason to doubt the good repute, competence and financial standing of that person.

2

from 14 January 2005 until the implementation of Article 3 of the Insurance Mediation Directive2 by the relevant EEA State

2

14 January 20053

33

MIPRU 3.2.7 R

R

The new limits of indemnity apply to a professional indemnity policy or a comparable guarantee agreement commenced, renewed or extended with effect from or after 1 March 2009. Any other existing non-annual arrangements must be aligned with the new limits of indemnity before 1 March 2010.

1 March 2009 to 28 February 2010

1 March 2009