Part 3 Further Provision about Write-Down Orders
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

Part 3 Further Provision about Write-Down Orders

3

After Schedule 19A to FSMA 2000 (the manager of a write-down order), inserted by Part 2 of this Schedule, insert—

“SCHEDULE 19B
Further Provision about Write-Down Orders

Section 377J

Part 1
Restrictions on Enforcement

Application of this Part of this Schedule

1

(1)     This Part of this Schedule applies in relation to an insurer—

(a)     during the period—

(i)     beginning with the date on which an application is made for a write-down order in relation to the insurer, and

(ii)     ending with the date on which the order is made or the application is withdrawn or dismissed;

(b)     during the period—

(i)     beginning with the date on which a write-down order is made in relation to the insurer, and

(ii)     ending with the last day of the period of six months beginning with the day on which the write-down order takes effect (see section 377A(3)(a));

(c)     during such further period as the court may order.

(2)     This Part of this Schedule ceases to apply—

(a)     where the court orders that it should cease to apply (and in accordance with the terms of the order), or

(b)

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