Regulation 19 Appointment of an administrator, receiver or interim trustee in relation to a member
United Kingdom
Where a Lloyd's market reorganisation order is in force, the following appointments may be made in relation to a member or former member only where an order has been made under regulation 13(3) and has not been revoked and shall be notified to the reorganisation controller—
the appointment of an administrator under paragraph 14 of Schedule B1 F1or under paragraph 15 of Schedule B1 to the 1989 Order;
the appointment of an administrator under paragraph 22 of Schedule B1 F2or under paragraph 23 of Schedule B1 to the 1989 Order;
the appointment of an administrative receiver;
the appointment of an interim receiver; and
the appointment of an interim trustee, within the meaning of the Bankruptcy (Scotland) Act 1985.
The notification to the reorganisation controller under paragraph (1) must be in writing.
If the requirement to notify the reorganisation controller in paragraph (1) is not complied with the administrator, administrative receiver, interim receiver or interim trustee is guilty of an offence and is liable on conviction to a fine not exceeding level 3 on the standard scale.
Annotations
Textual amendments
- F1
Words in reg. 19(1)(a) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(8)(a)
- F2
Words in reg. 19(1)(b) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(8)(b)