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retirement annuity
As Published: 2001
retirement annuity
an individual pension policy effected before 1 July 1988 53 by a self-employed person or a person in non-pensionable employment which was 53 approved under Chapter III, Part XIV of the Income and Corp…
international organisation
As Published: 2006
international organisation
52 (for the purposes of GENPRU and BIPRU ) an organisation referred to in BIPRU 3.4.30 R (Exposures to international organisations).
Insurance Ombudsman scheme
As Published: 2001
Insurance Ombudsman scheme
the former scheme set up, on a voluntary basis, to handle complaints against those insurance companies which subscribed to it. 1…
management expenses levy
As Published: 2001
management expenses levy
a levy imposed by the FSCS on participant firms to meet the management expenses and which is made up of one or more of a base cost levy and 53 a specific costs levy , each participant firm's share bei…
asset backed security
As Published: 2005
asset backed security
(as defined in the PD Regulation ) securitieswhich: (a) represent an interest in assets, including any rights intended to assure servicing, or the receipt or timeliness of receipts by holders of asset…
supplementary prospectus
As Published: 2005
supplementary prospectus
(in Part 6 rules ) a supplementary prospectus containing details of a new factor, mistake or inaccuracy. 34…
authorised insurance company
As Published: 2006
authorised insurance company
40 (In COMP ) (in accordance with the compensation transitionals order ) a person who was, at any time before commencement , authorised under section 3 or 4 of the Insurance Companies Act 1982 to carr…
financial year
As Published: 2001
financial year
(1) (in DISP ) the 12 months ending with 31 March. (3) (in 23 GENPRU and INSPRU 23 ) the period at the end of which the balance of the accounts of the insurer is struck, or, if no balance is struck, t…
automatic enrolment scheme
As Published: 2011
automatic enrolment scheme
76 a scheme that meets the conditions in Part 1 of the Pensions Act 2008. In summary this is a qualifying occupational pension scheme or qualifying personal pension scheme that enables automatic enrol…
required function
As Published: 2001
required function
any of controlled functions 8 to 12B 78 in the table of controlled functions ( SUP 10.4.5 R ). 78 5…
IPA eligible investment
As Published: 2001
IPA eligible investment
a type of investment specified in regulation 2(2) (condition 5) of the Stamp Duty and Stamp Duty Reserve Tax (Definition of Unit Trust Scheme and Open-ended Investment Company) Regulations 2001 (SI 20…
supervisory review and evaluation process
As Published: 2006
supervisory review and evaluation process
45 the FSA's assessment of the adequacy of certain firms' capital, as more fully described in BIPRU 2.2.9 G and INSPRU 7.1.91 G to INSPRU 7.1.99 G . 65…
institutional linked policyholders
As Published: 2007
institutional linked policyholders
67 in relation to permitted links , linked policyholders who are trustees of a defined benefit occupational pension scheme .
motor vehicle liability insurer
As Published: 2004
motor vehicle liability insurer
(a) a firm with permission to carry on motor vehicle liability insurance business ; (b) any person carrying on the regulated activity of managing the underwriting capacity of a Lloyd's syndicate in re…
procuration fee
As Published: 2003
procuration fee
14 the total amount paid by a home finance provider 39 to a home finance intermediary 39 , whether directly or indirectly, in connection with providing applications from customers to enter into home f…
EEA regulated entity
As Published: 2004
EEA regulated entity
21 a regulated entity that is an EEA firm or a UK firm .
vehicle
As Published: 2007
vehicle
9 any motor vehicle intended for travel on land and propelled by mechanical power, but not running on rails, and any trailer whether or not coupled. [Note: article 1(1) of Council Directive 72/166/EEC…