# The Insurers (Winding Up) (Scotland) Rules 2001, Article 22: Dividends to creditors


(1) This rule applies in the case of a company carrying on long-term business.
(2) The procedure for payment of dividends to creditors under Chapter 9 of Part 4 of the principal rules (distribution of company’s assets by liquidator) applies separately in relation to the two separate companies assumed for the purposes of rule 5 above.
(3) The court may, at any time before the making of a stop order, permit a dividend to be declared and paid on such terms as it thinks fit in respect only of debts which fell due for payment before the liquidation date or, in the case of claims under long-term policies, which have fallen due for payment on or after the liquidation date.

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Source: https://www.legislation.gov.uk/uksi/2001/4040/article/22 (the official version)
Page: https://openlegislation.uk/insurers-winding-up-scotland-rules-2001/article-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.