# The Risk Transformation Regulations 2017, Regulation 50: Set-off: modification of insolvency legislation


(1) This regulation applies where—
(a) a protected cell company has a liability (“liability A”) to a person which was incurred on behalf of, or which is attributable to, a part of the protected cell company; and
(b) that person has a liability (“liability B”) to the protected cell company in respect of a different part of the protected cell company.
(2) Nothing in the insolvency legislation enables the netting or setting off against each other of liability A and liability B.

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Source: https://www.legislation.gov.uk/ukdsi/2017/9780111160596/regulation/50 (the official version)
Page: https://openlegislation.uk/draft-risk-transformation-regulations-2017/regulation-50
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.