(1) In these Regulations -

"the Administration for Insurers Order" means the Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) Order 2002 [S.I. 2002/1242 as amended by S.I. 2003/2134.]  and the "Administration for Insurers (Northern Ireland) Order" means the Financial Services and Markets Act 2000 (Administration Relating to Insurers)(Northern Ireland) Order 2007;

"affected market participant" means any member, former member, managing agent, members' agent, Lloyd's broker, approved run-off company or coverholder to whom the Lloyd's market reorganisation order applies;

"approved run-off company" means a company with the permission of the Society to perform executive functions, insurance functions or administrative and processing functions on behalf of a managing agent;

"the association of underwriters known as Lloyd's" has the meaning it has for the purposes of Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II), as it had effect immediately before IP completion day;