collective insurance

(in relation to a class of contract of insurance) the class of contract of insurance, specified in paragraph VIII of Part II of Schedule 1 to the Regulated Activities Order (Contracts of long-term insurance), of a kind referred to in article 2(2)(e)81 of the Consolidated Life Directive 81 ("the operations carried out by insurance companies such as those referred to in Chapter 1, Title 4 of Book IV of the French "Code des assurances"").3