Financial Services and Markets Bill - continued        House of Lords
PART XXIX, INTERPRETATION - continued

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Manager.     415. - (1) In this Act, except in relation to a unit trust scheme or a registered friendly society, "manager" means an employee who-
 
 
    (a) under the immediate authority of his employer is responsible, either alone or jointly with one or more other persons, for the conduct of his employer's business; or
 
    (b) under the immediate authority of his employer or of a person who is a manager by virtue of paragraph (a) exercises managerial functions or is responsible for maintaining accounts or other records of his employer.
      (2) If the employer is not an individual, references in subsection (1) to the authority of the employer are references to the authority-
 
 
    (a) in the case of a body corporate, of the directors;
 
    (b) in the case of a partnership, of the partners; and
 
    (c) in the case of an unincorporated association, of its officers or the members of its governing body.
      (3) "Manager", in relation to a body corporate, means a person (other than an employee of the body) who is appointed by the body to manage any part of its business and includes an employee of the body corporate (other than the chief executive) who under the immediate authority of a director or chief executive of the body corporate exercises managerial functions or is responsible for maintaining accounts or other records of the body corporate.
 
Expressions relating to insurance.     416. - (1) "The 1982 Act" means the Insurance Companies Act 1982.
 
      (2) In this Act-
 
 
    "insurance business", "insurance company" and "contract of insurance" have the same meaning as in the 1982 Act;
 
    "general insurance business" and "long-term insurance business" have the meaning given by section 1 of the 1982 Act;
 
    "main agent" has the same meaning as in section 96E of the 1982 Act.
Expressions relating to authorisation elsewhere in the single market.     417. - (1) In this Act-
 
 
    (a) "EEA authorisation", "EEA firm", "EEA right", "EEA State", "first life insurance directive", "first non-life insurance directive", "insurance directives", "investment services directive", "single market directives" and "second banking coordination directive" have the meaning given in Schedule 3; and
 
    (b) "home state regulator", in relation to an EEA firm, has the meaning given in Schedule 3.
      (2) In this Act-
 
 
    (a) "home state authorisation" has the meaning given in Schedule 4;
 
    (a) "Treaty firm" has the meaning given in Schedule 4; and
 
    (c) "home state regulator", in relation to a Treaty firm, has the meaning given in Schedule 4.
 
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