Financial Services and Markets Act 2000

Valid from 10/12/2007

[F1[F1114ANotice of transfer of reinsurance contractsU.K.

This section has no associated Explanatory Notes

(1)This section applies in relation to an insurance business transfer scheme if—

(a)the authorised person concerned is an authorised person other than an EEA firm qualifying for authorisation under Schedule 3;

(b)the court has made an order under section 111 in relation to the scheme; and

(c)an EEA State other than the United Kingdom is, as regards any policy included in the transfer which evidences a contract of reinsurance, the State in which the establishment of the policyholder to which the policy relates is situated at the date when the contract was entered into (“the EEA State concerned”).

(2)The court may 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.]]

Textual Amendments