Section 37(5)

In subsection (2)— “UK institution” means an institution which is incorporated in, or formed under the law of any part of, the United Kingdom; “insurer” means an institution which is authorised under FSMA 2000 to carry on the regulated activity of effecting or carrying out contracts of insurance as principal; “credit union” means a credit union as defined by section 31 of the Credit Unions Act 1979 or a credit union as defined by Article 2(2) of the Credit Unions (Northern Ireland) Order 1985.

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Source: legislation.gov.uk · retrieved 2026-09-04