Regulation 7

the insurance company is subject to the process of winding up and cannot lawfully effect any contracts of insurance; or

the insurance company is subject to a direction by the Secretary of State given under section 11 of the Act or section 11 of the Insurance Companies Act 1981^f1, or given under section 12A of the Act and confirmed by the Secretary of State pursuant to section 12A(6) of the Act^f2, that it shall cease to be authorised to effect contracts of insurance (including reinsurance) of all classes for which it had been authorised under section 3 or 4 of the Act or under section 3 or 4 of the said Act of 1981; or

the insurance company is subject to a restriction imposed under section 68 of the Companies Act 1967^f3 or section 13 of the Insurance Companies Amendment Act 1973^f4, or imposed or deemed to have been imposed under section 29 of the Insurance Companies Act 1974^f5 which, in any of those cases and taking into account the authorisation of the company, has the result that the company is prohibited from effecting any contract of insurance (including reinsurance) in the United Kingdom.