# The Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers) (Amendment) Order 2003, Article 6: Article 5


For article 5, substitute—
“5. Where an insurer, in relation to which an administration order has been made, subsequently goes into liquidation, sums due from the insurer to another party are not to be included in the account of mutual dealings rendered under rule 4.90 of the Insolvency Rules 1986 (mutual credit and set-off) if, at the time they became due—
(a) an administration application had been made under paragraph 12 of Schedule B1 in relation to the insurer;
(b) in the case of an appointment of an administrator under paragraph 14 of Schedule B1, a notice of appointment had been filed with the court under paragraph 18 of that Schedule in relation to the insurer; or
(c) in the case of an appointment of an administrator under paragraph 22 of Schedule B1, a notice of intention to appoint had been filed with the court under paragraph 27 of that Schedule in relation to the insurer.”.

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Source: https://www.legislation.gov.uk/uksi/2003/2134/article/6 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000-administration-orders-relating-to-insurers-amendment-order-2003/article-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.