# The Insurers (Winding Up) Rules 2001, Article 13: Utilisation of excess of assets


(1) Except at the direction of the court, no distribution may be made out of and no transfer to another insurer may be made of—
(a) any part of the excess of the long-term business assets which has been transferred to the other business; or
(b) any part of the excess of the other business assets, which has been transferred to the long-term business.
(2) Before giving a direction under paragraph (1) the court may require the liquidator to advertise the proposal to make a distribution or a transfer in such manner as the court shall direct.

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Source: https://www.legislation.gov.uk/uksi/2001/3635/article/13 (the official version)
Page: https://openlegislation.uk/insurers-winding-up-rules-2001/article-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.