[(1) In this Part “the appropriate regulator” means—
(a) in relation to [a ring-fencing transfer scheme or a scheme (other than a ring-fencing transfer scheme)] in respect of which [the transferor concerned] is a PRA-authorised person, the PRA;
(b) in any other case, the FCA.
(2) In this Part, “[the transferor concerned]”—
(a) in the case of an insurance business transfer scheme, is to be read in accordance with section 105(2);
(b) in the case of a banking business transfer scheme, is to be read in accordance with section 106(2);
(c) in the case of a reclaim fund business transfer scheme, means the reclaim fund to whose business the scheme relates;
[(d) in the case of a ring-fencing transfer scheme, means the body to whose business the scheme relates].]
No insurance business transfer scheme . . . is to have effect unless an order has been made in relation to it under section 111(1).
(1) A scheme is an insurance business transfer scheme if it—
(a) satisfies one of the conditions set out in subsection (2);
(b) results in the business transferred being carried on from an establishment of the transferee in an EEA State; and
(c) is not an excluded scheme.
(2) The conditions are that—
(a) the whole or part of the business carried on in one or more member States by a UK authorised person who has permission to effect or carry out contracts of insurance (“[the transferor concerned]”) is to be transferred to another body (“the transferee”);
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