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Section 377J Further provision about write-down ordersF1

In Schedule 19B—

(a)

Part 1 makes provision about the enforcement of a liability of an insurer while a write-down order has effect;

(b)

Part 2 makes provision about the disposal of an insurer’s assets and the making of certain payments by an insurer while a write-down order has effect;

(c)

Part 3 makes provision about the treatment of an insurer’s liabilities for the purposes of certain provisions relating to insolvency while a write-down order has effect;

(d)

Part 4 makes provision about interest payable in respect of liabilities reduced under a write-down order or prevented from being enforced while a write-down order has effect.

Annotations

Textual amendments

F1

Ss. 377A-377J inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(e), Sch. 12 para. 1(4)

Notes on Part XXIV

Modifications

C1

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)

C2

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))

C3

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))