Paragraph 4 I1

(1)

Section 111 (sanction of the court for business transfer schemes) is amended as follows.

(2)

In subsection (1), for “or a banking business transfer scheme” there is substituted “, a banking business transfer scheme or a reclaim fund business transfer scheme”.

(3)

In subsection (2)—

(a)

at the beginning of paragraph (a) there is inserted “in the case of an insurance business transfer scheme or a banking business transfer scheme,”;

(b)

after that paragraph there is inserted—

“(aa)
in the case of a reclaim fund business transfer scheme, the appropriate certificate has been obtained (as to which see Part 2A of that Schedule);”.

Annotations

Commencement

I1: Sch. 2 para. 4 in force at 12.3.2009 by S.I. 2009/490, art. 2