http://www.legislation.gov.uk/ukpga/2000/8/section/114/2002-08-21Financial Services and Markets Act 2000An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.2000-06-15texttext/xmlenStatute Law Database2026-07-012002-07-18 Part VII Control of Business Transfers Rights of certain policyholders.1141This section applies in relation to an insurance business transfer scheme if—athe authorised person concerned is an authorised person other than an EEA firm qualifying for authorisation under Schedule 3;bthe court has made an order under section 111 in relation to the scheme; andcan EEA State other than the United Kingdom is, as regards any policy included in the transfer which evidences a contract of insurance, the State of the commitment or the EEA State in which the risk is situated (“the EEA State concerned”).2The court must direct that notice of the making of the order, or the execution of any instrument, giving effect to the transfer must be published by the transferee in the EEA State concerned.3A notice under subsection (2) must specify such period as the court may direct as the period during which the policyholder may exercise any right which he has to cancel the policy.4The order or instrument mentioned in subsection (2) does not bind the policyholder if—athe notice required under that subsection is not published; orbthe policyholder cancels the policy during the period specified in the notice given under that subsection.5The law of the EEA State concerned governs—awhether the policyholder has a right to cancel the policy; andbthe conditions, if any, subject to which any such right may be exercised.6Paragraph 6 of Schedule 12 applies for the purposes of this section as it applies for the purposes of that Schedule.S. 114 applied (1.12.2001) by S.I. 2001/3626, arts. 1, 3(a)