(1) In these Regulations -

"the Act" means the Financial Services and Markets Act 2000;

"the 1990 Act" means the Contracts (Applicable Law) Act 1990 [ 1990 c. 36.];

"applicable law", in relation to a contract of insurance, means the law that is applicable to that contract;

"contract of general insurance" and "contract of long-term insurance" have the meanings given by the Regulated Activities Order;

"EEA State of the commitment" means, in relation to a contract of long-term insurance entered into on a date - (a) if the policyholder is an individual, the EEA State in which he resides on that date; or (b) otherwise, the EEA State in which the establishment of the policyholder to which the contract relates is situated on that date;