Article 13 Utilisation of excess of assetsI1
Northern Ireland
(1)
Except at the direction of the High 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 High Court may require the liquidator to advertise the proposal to make a distribution or a transfer in such manner as the Court shall direct.