# The Insurers (Reorganisation and Winding Up) Regulations 2003, Regulation 45: Detrimental acts pursuant to the law of an EEA State


(1) In a relevant reorganisation or a relevant winding up, the rules relating to detrimental transactions shall not apply where a person who has benefited from a legal act detrimental to all the creditors provides proof that:
(a) the said act is subject to the law of an EEA State; and
(b) that law does not allow any means of challenging that act in the relevant case.
(2) For the purposes of paragraph (1), “the rules relating to detrimental transactions” means any provision of the general law of insolvency relating to the voidness, voidability or unenforceability of legal acts detrimental to all the creditors, as referred to in regulation 37(3)(m).

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Source: https://www.legislation.gov.uk/uksi/2003/1102/regulation/45 (the official version)
Page: https://openlegislation.uk/insurers-reorganisation-and-winding-up-regulations-2003/regulation-45
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.