[Part 3 Termination etc of Relevant Contracts]
Financial Services and Markets Act 2000 (2000 c 8) | Legislation

[Part 3 Termination etc of Relevant Contracts]

[Relevant contracts

6

(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 of a commodity or group or index of commodities for future delivery;

(ii)     an option on a commodity or group or index of commodities;

(iii)     a repurchase or

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