Relevant contracts
(1) For the purposes of this Part of this Schedule, a contract to which an insurer is a party is a "relevant contract" if it is -
(a) a contract for the supply of goods or services to the insurer,
(b) a financial contract, or
(c) a reinsurance contract under which contracts of insurance the insurer carries out as principal are reinsured.
(2) "Financial contract" means -
(a) a contract for the provision of financial services consisting of -
(i) lending (including the factoring and financing of commercial transactions),
(ii) financial leasing, or
(iii) providing guarantees or commitments;
(b) a securities contract, including -
(i) a contract for the purchase, sale or loan of a security or group or index of securities;
(ii) an option on a security or group or index of securities;
(iii) a repurchase or reverse repurchase transaction on any such security, group or index;
(c) a commodities contract, including -
(i) a contract for the purchase, sale or loan o
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