“Appointed Representative” shall have the meaning given to it by FSMA;
“Authorisation” means all necessary authorisation from the FCA pursuant to FSMA to deal with RUL under this Agreement, and “Authorised” shall be construed accordingly;
“Con dential Information” means any information and/or material relating to the business, affairs, nances, systems, processes and/or methods of operation of either party which is disclosed by one party to the other in connection with the operation of this Agreement (whether oral or in writing and whether or not such information is expressly stated to be con dential or marked as such);
“Credit Period” has the meaning set out in Schedule 2;
“DPA” means the Data Protection Act 1998 or replacing amending subsequent legislation and the rules and regulations made or having effect under it;
“FCA” means the Financial Conduct Authority and/or any successor body and their of cers and agents;
“FSMA” means the Financial Services and Markets Act 2000 and the rules and regulations made or having effect under it;
“Gross Premium” means the gross selling price of any Policy payable by the Policyholder to RUL, including commission and/or fees payable by RUL to the Intermediary, and including IPT;
“Intermediary” means the general insurance intermediary for and on whose behalf this Agreement is signed. Such intermediary must be Authorised.
“IPT” means insurance premium tax as provided for in Part III of and Schedules 7 and 7a to the Finance Act 1994 and all subsequent legislation relative to the taxation of insurance premiums, whether made before or after the date of this Agreement and all regulations made thereunder and all published and generally applied practices of HM Customs and Excise in relation thereto or any similar tax payable in respect of insurance premiums which replaces it or is introduced in addition thereto and which RUL is responsible for remitting to HM Customs and Excise;
“Net Premium” means the Premium less commission and/or fees, but excluding IPT; “Personal Data” means data as de ned by the DPA;
“Policy” means any general insurance policy or contract of insurance (excluding aviation insurance, but including incident marine insurance) which is subject to this Agreement;
“Policyholder” means anyone who, pursuant to this Agreement, for the time being is the legal holder of one of RUL’s Policies including any person to whom, under the Policy, a sum is due, a periodic payment is payable or such other bene t is to be derived or who is the recipient of advice or other services from the Intermediary in relation to one of RUL’s Policies;
“Premium” means the gross selling price of any Policy payable by the Policyholder to RUL, including commission and/or fees payable by RUL to the Intermediary, but excluding IPT;
“Process/Processing” means in relation to information or data, obtaining, recording or holding the information or data or carrying out any operation or set of operations on the information or data, including; –
(a) organisation, adaptation information or alteration of the data; (b) retrieval, consultation or use of the information or data;
(c) disclosure of the information or data by transmission, dissemination or otherwise making available;
(d) alignment, combination, blocking, erasure or destruction of the information or data.
“Regulator” means the FCA the PRA, the FOS, the Association of British Insurers, the Advertising Standards Authority, the Of ce of Fair Trading or any other competent governmental, statutory or regulatory body having regulatory or supervisory authority jurisdiction or control over a Party in relation to the ful lment of its obligations under this Agreement.
“Regulatory Requirements” means all applicable statutes, statutory instruments, orders, regulations and codes of practice (whether or not having the force of law) in force from time to time, and in particular but without limitation the requirements, rules, regulations, guidance and codes of practice of FSMA and the FCA.
“RUL Group” means RUL or any subsidiaries of RUL and parent company and associated companies of RUL from time to time.
1.2 Any reference in this Agreement to a statute, statutory instrument, rule, regulation or EU directive shall be construed as a reference to such statute, statutory instrument, rule, regulation or EU directive as amended, re-enacted or replaced from time to time.
1.3 Any reference in this Agreement to another agreement or document shall be construed as a reference to that other agreement or document as amended or supplemented from time to time.
1.4 Any reference in this Agreement to a Clause or Sub-clause shall be construed as a reference to a clause or sub-clause of this Agreement.
1.5 The headings used in this Agreement are for reference purposes only and do not affect its interpretation.