(This note is not part of the Instrument and does not purport to be a legal interpretation.)
These Regulations make certain amendments to the European Union (Insurance and Reinsurance) Regulations 2015 (S.I. No. 485 of 2015) in order to more accurately reflect the text of the Solvency II Directive (Directive 2009/138/EC) as amended.
These Regulations also dis-apply the provisions of Sections 14 and 15 of the Insurance Act 1989 (No. 3 of 1989) to an insurance undertaking to which the aforementioned European Union (Insurance and Reinsurance) Regulations 2015 apply, other than an undertaking to which Regulation 11(1) of those Regulations applies.