{
  "url": "https://openlegislation.uk/financial-services-and-markets-act-2000-administration-orders-relating-to-insurersnorthern-ireland-order-2007/note",
  "json_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-administration-orders-relating-to-insurersnorthern-ireland-order-2007/note.json",
  "legislation": "uksi/2007/846",
  "legislation_title": "The Financial Services and Markets Act 2000 (Administration Orders Relating to Insurers)(Northern Ireland) Order 2007",
  "legislation_url": "https://openlegislation.uk/financial-services-and-markets-act-2000-administration-orders-relating-to-insurersnorthern-ireland-order-2007",
  "path": "note",
  "kind": "note",
  "number": null,
  "heading": "Explanatory note",
  "text": "(This note is not part of the Order)\nThis Order applies Part III of the Insolvency (Northern Ireland) Order 1989, S.I. 1989 No. 2405 (N.I. 19) as amended by the Insolvency (Northern Ireland) Order 2005, S.I. 2005 No. 1455 (N.I. 10) (“the 2005 Order”), with modifications, to insurers. It also applies, again with modifications, the Insolvency Rules (Northern Ireland) 1991, S.R. 1991 No. 364, as they are amended by the Insolvency (Amendment) Rules (Northern Ireland) 2006, S.R. 2006 No. 47. These changes reflect the changes made to the administration procedure by the 2005 Order.\nThe order permits insurers to enter into administration via the making of an administration order by the High Court.\nAs is presently the case where an insurer which has been in administration goes into liquidation sums due from the insurer to another party are not subject to the set off rule where at the time they became due an administration application has been made.\nThe modifications in relation to insurers made to the administration procedure by this Order also include—\nprovision for notices at various stages of the administration procedure to be given to the Financial Services Authority;\nan increase in the standard length of administration from one year to 30 months;\nan increase in the extension period from 6 to 12 months;\na modified rule in relation to payments to creditors.\nThis Order also amends the Financial Services and Markets Act 2000 (Transitional Provisions, Repeals and Savings) (Financial Services Compensation Scheme) Order 2001 so that cases dealt with by the Financial Services Compensation Scheme relating to insurers in provisional liquidation or in financial difficulties are not affected (for the purposes of sections 15 and 16 of the Policyholders Protection Act 1975) by administration orders made in relation to those insurers.\nNo Regulatory Impact Assessment has been prepared for this instrument as these amendments are consequential on the changes made to the administration procedure in Northern Ireland by the 2005 Order. A Regulatory Impact Assessment was prepared for the 2005 Order and was placed in the library of each House of Parliament. Copies can be obtained from the Insolvency Service Fermanagh House, Ormeau Avenue, Belfast, BT2 8NJ or from the Service’s web-site at www.insolvencyservice.detini.gov.uk.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2007/846/note",
    "retrieved_at": "2026-10-29T03:57:29.604058+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}