(1) In these Regulations -

(a) "general insurance business" means the business of effecting or carrying out of contracts of general insurance.

(b) "insurance company" means - (i) a person who has permission under Part 4A of the Financial Services and Markets Act 2000 to effect or carry out contracts of insurance, (ii) 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 or carry out contracts of insurance, or (iii) a person not falling with paragraph (i) or (ii) who may effect or carry out contracts of insurance without contravening the prohibition imposed by section 19 of that Act.