Regulation 11 of the Personal and Occupational Pension Schemes (Protected Rights) Regulations 1996 (Insurance companies that may provide protected rights by way of annuities) is amended as follows -

(a) in the sub-title of that regulation, for "Insurance companies" substitute "Insurers";

(b) the existing text of that regulation is numbered paragraph (1);

(c) in paragraph (1) for "insurance company" (in both places) substitute "insurer";

(d) for paragraph (1)(a) of that regulation substitute -

"(a)

(i) is a person who has permission under Part 4 of the Financial Services and Markets Act 2000 to effect and carry out contracts of long-term insurance; or

(ii) is an EEA firm of the kind mentioned in paragraph 5(d) of Schedule 3 to that Act, which has permission under paragraph 15 of that Schedule (as a result of qualifying for authorisation under paragraph 12 of that Schedule) to effect and carry out contracts of long-term insurance;"; and

(e) after paragraph (1) insert -

"(2) Paragraph (1)(a) of this regulation must be read with -

(a) section 22 of the Financial Services and Markets Act 2000;

(b) any relevant order under that section; and

(c) Schedule 2 to that Act.".