State of the commitment

(in accordance with paragraph 6(1) of Schedule 12 to the Act (Transfer schemes: certificates)) (in relation to a commitment entered into at any date):

1. (a) if the policyholder is an individual, the State in which he had his habitual residence at that date;
2. (b) if the policyholder is not an individual, the State in which the establishment of the policyholder to which the commitment relates was established at that date;

in this definition, "commitment" means (in accordance with article 2 of the Financial Services and Markets Act 2000 (Control of Business Transfers) (Requirements on Applicants) Regulations 2001 (SI 2001/3625))70 any contract of insurance of a kind referred to in article 270of the Consolidated Life Directive.70