Financial Services and Markets Act 2000 (c. 8)

Part XXIV U.K. Insolvency

Supplemental provisions concerning insurers U.K.

378 Treatment of assets on winding up. U.K.

(1) The Treasury may by regulations provide for the treatment of the assets of an insurer on its winding up.

(2) The regulations may, in particular, provide for—

(a) assets representing a particular part of the insurer’s business to be available only for meeting liabilities attributable to that part of the insurer’s business;

(b) separate general meetings of the creditors to be held in respect of liabilities attributable to a particular part of the insurer’s business.