HC Deb 01 February 2000 vol 343 c994

Where the business to be transferred under the scheme is the whole of the business of the authorised person concerned and—

  1. (a) consists solely of reinsurance business, or
  2. (b) all the policyholders are controllers of the firm or of firms within the same group as the firm which is the transferee,
and, in either case, all of the policyholders who will be affected by the transfer have consented to it. (4) The parties to a scheme which falls within Case 2, 3 or 4 may apply to the court for an order sanctioning the scheme as if it were an insurance business transfer scheme. (5) Subsection (6) applies if the scheme involves a compromise or arrangement falling within section 427A of the Companies Act 1985 (or Article 420A of the Companies (Northern Ireland) Order 1986). (6) Sections 425 to 427 of that Act (or Articles 418 to 420 of that Order) have effect as modified by section 427A of that Act (or Article 420A of that Order) in relation to that compromise or arrangement. (7) But subsection (6) does not affect the operation of this Part in relation to the scheme. (8) "UK authorised person" means a body which is an authorised person and which is incorporated in, or an unincorporated association formed under the law of, any part of the United Kingdom. (9) "Establishment" means, in relation to a person, his head office or a branch of his.".—[Miss Melanie Johnson.] Brought up, read the First and Second time, and added to the Bill.

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