Deposit Insurance and Policy Owners’ Protection Schemes Act 2011 · 2020 Revised Edition · Part 6 · Policy Owners’ Protection Scheme
31. Membership of PPF Scheme
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Every relevant insurer which is not exempted under section 32 is a PPF Scheme member so long as it is licensed by the Authority to carry on insurance business under the Insurance Act 1966.
relevant insurer
“relevant insurer” means —(a)a direct insurer licensed to carry on life business under the Insurance Act 1966 (other than a captive insurer); or(b)a direct insurer licensed to carry on general business under the Insurance Act 1966 (other than a captive insurer or specialist insurer);
Every relevant insurer which is licensed to carry on insurance business under the Insurance Act 1966 immediately before 1 May 2011, is deemed to be a PPF Scheme member from that date.
Every relevant insurer which is licensed to carry on insurance business under the Insurance Act 1966 on or after 1 May 2011, is a PPF Scheme member from the date on which it is licensed.