In Part 1 (introduction), in regulation 2(4)(a) (interpretation) [Regulation 2(4)(a) was amended by paragraph 27(2)(a) of Schedule 2 to the Solvency 2 Regulations 2015 (S.I. 2015/575).] -

(a) for "is excluded" substitute "would be excluded";

(b) after "that Directive," insert "were the United Kingdom a member State".