Insurance Act, 2000

Amendment of section 25 of Act of 1995 (Definition of “investment product intermediary”).

21.—Section 25 of the Act of 1995 is hereby amended by the substitution of the following for that section:

“25.—In this Act, ‘investment product intermediary’ means an investment business firm or a solicitor holding a practising certificate (within the meaning of the Solicitors Acts, 1954 to 1994) who does all or any of the following:

(a) acts as a deposit agent or as a deposit broker;

(b) provides a service for the reception and transmission of orders to a product producer in—

(i) units or shares in undertakings for collective investments in transferable securities within the meaning of the Regulations of 1989,

(ii) units in a unit trust,

(iii) other collective investment scheme instruments,

(iv) shares in a company which are listed on a stock exchange,

(v) bonds listed on a stock exchange or prize bonds,

(vi) tracker bonds, or

(vii) insurance policies.”.