http://www.legislation.gov.uk/ukpga/2000/8/section/366/enactedFinancial Services and Markets Act 2000GovernanceKing's Printer of Acts of Parliament2025-07-28 Part XXIVInsolvencyVoluntary winding upInsurers effecting or carrying out long-term contracts or insurance 366 1 An insurer effecting or carrying out contracts of long-term insurance may not be wound up voluntarily without the consent of the Authority. 2 If notice of a general meeting of such an insurer is given, specifying the intention to propose a resolution for voluntary winding up of the insurer, a director of the insurer must notify the Authority as soon as practicable after he becomes aware of it. 3 A person who fails to comply with subsection (2) is guilty of an offence and liable on summary conviction to a fine not exceeding level 5 on the standard scale. 4 The following provisions do not apply in relation to a winding-up resolution— a sections 378(3) and 381A of the Companies Act 1985 (“the 1985 Act”); and b Articles 386(3) and 389A of the Companies (Northern Ireland) Order 1986 (“the 1986 Order”). 5 A copy of a winding-up resolution forwarded to the registrar of companies in accordance with section 380 of the 1985 Act (or Article 388 of the 1986 Order) must be accompanied by a certificate issued by the Authority stating that it consents to the voluntary winding up of the insurer. 6 If subsection (5) is complied with, the voluntary winding up is to be treated as having commenced at the time the resolution was passed. 7 If subsection (5) is not complied with, the resolution has no effect. 8 “Winding-up resolution” means a resolution for voluntary winding up of an insurer effecting or carrying out contracts of long-term insurance. 1985 c. 6. S.I. 1986/1032 (N.I. 6).