# Financial Services and Markets Act 2023, Section 58: Insurers in financial difficulties

Extent: E+W+S+N.I.

(1) Schedule 12 makes provision about the powers of the court in relation to liabilities of an insurer that is, or is likely to become, unable to pay its debts (an order made in exercise of these powers is a “write-down order”).
(2) Schedule 13 makes provision about the enforcement of contracts to which an insurer is a party, where the insurer is subject to a write-down order or to certain insolvency proceedings.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/section/58 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/section-58
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.