Insurance Act 2015

Transitional cases

5 (1) Schedule 3 (transitory, transitional and saving provision) is amended as follows.

(2) At the beginning insert—

“Application of this Act”.

(3) After paragraph 1 insert—

“Relevant persons

1A (1) An individual, company or limited liability partnership not within sections 4 to 7 is to be treated as a relevant person for the purposes of this Act in the following cases.

(2) The first case is where an individual—

(a) became bankrupt before commencement day, and

(b) has not been discharged from that bankruptcy.

(3) The second case is where—

(a) an individual made a composition or arrangement with his or her creditors before commencement day, and

(b) the composition or arrangement remains in force.

(4) The third case is where—

(a) a winding-up order was made, or a resolution for a voluntary winding-up was passed, with respect to a company or limited liability partnership before commencement day, and

(b) the company or partnership is still wound up.

(5) The fourth case is where a company or limited liability partnership—

(a) entered administration before commencement day, and

(b) is still in administration.

(6) The fifth case is where—

(a) a receiver or manager of the business or undertaking of a company or limited liability partnership was appointed before commencement day, and

(b) the appointment remains in force.

(7) In those cases, the person is a relevant person only in relation to liabilities under a contract of insurance under which the person was insured at the time of the event mentioned in sub-paragraph (2)(a), (3)(a), (4)(a), (5)(a) or (6)(a) (as appropriate).”

(4) Before paragraph 2 insert—

“Bankruptcy and Diligence etc (Scotland) Act 2007”.

(5) Before paragraph 3 insert—

“Application of 1930 Acts”.

(6) Before paragraph 5 insert—

“Interpretation”.