Part XXIV

Insolvency

Supplemental provisions concerning insurers

Treatment of assets on winding up.
378
1
The Treasury may by regulations provide for the treatment of the assets of an insurer on its winding up.
2
The regulations may, in particular, provide for—
a
assets representing a particular part of the insurer’s business to be available only for meeting liabilities attributable to that part of the insurer’s business;
b
separate general meetings of the creditors to be held in respect of liabilities attributable to a particular part of the insurer’s business.
Pt. 24 applied in part (with modifications) (8.7.2021) by S.I. 2017/752, Sch. 6 para. 9 (as substituted by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 48(1))
Pt. 24 applied (with modifications) (8.12.2017) by The Risk Transformation Regulations 2017 (S.I. 2017/1212), regs. 1(2), 166(2), 167(2), Sch. 2, Sch. 3 (with regs. 168, 189)
Pt. 24 applied in part (with modifications) (8.7.2021) by S.I. 2011/99, Sch. 3 para. 7 (as substituted by The Payment and Electronic Money Institution Insolvency Regulations 2021 (S.I. 2021/716), regs. 2, 48(2))