Part VII Control of Business Transfers
109F1Scheme reports: insurance business transfer schemes
(1)
An application under section 107 in respect of an insurance business transfer scheme must be accompanied by a report on the terms of the scheme (“a scheme report”).
(2)
A scheme report may be made only by a person—
(a)
appearing to the F2appropriate regulator to have the skills necessary to enable him to make a proper report; and
(b)
nominated or approved for the purpose by the F2appropriate regulator.
(3)
A scheme report must be made in a form approved by the F2appropriate regulator.
F3(4)
Where the appropriate regulator is the PRA, it must consult the FCA before—
(a)
nominating or approving a person under subsection (2)(b), or
(b)
approving a form under subsection (3).
(5)
Subsection (6) applies where the appropriate regulator is the FCA and either—
(a)
the transferee is a PRA-authorised person, or
(b)
F4the transferor concerned or the transferee has as a member of its immediate group a PRA-authorised person.
(6)
The FCA must consult the PRA before—
(a)
nominating or approving a person under subsection (2)(b), or
(b)
approving a form under subsection (3).