The Insurers (Reorganisation and Winding Up) Regulations 2004, Section 28A is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
28A.—(1) This regulation applies in the same circumstances as regulation 28, but only if the non-transferring composite insurer is—
(a)a company registered in England and Wales [F2or Scotland];
(b)a registered society within the meaning given by section 1(1) of the Co-operative and Community Benefit Societies Act 2014 which the courts in England and Wales [F3or Scotland] have jurisdiction to wind up; or
(c)a friendly society within the meaning of section 7(1)(a) of the Friendly Societies Act 1974, which is registered within the meaning of that Act and is being wound up by the High Court [F4or the Court of Session] under the Insolvency Act 1986.
(2) The creditors from whom the liquidator is to seek a decision about any matter in relation to the winding up are to be—
(a)in relation to the long term business assets of that insurer, only those who are creditors in respect of long term business liabilities, and
(b)in relation to the general business assets of that insurer, only those who are creditors in respect of general business liabilities.]
Textual Amendments
F1Reg. 28A inserted (13.3.2018) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2018 (S.I. 2018/208), regs. 1(3), 9(2) (with reg. 20)
F2Words in reg. 28A(1)(a) inserted (23.7.2019) by The Small Business, Enterprise and Employment Act 2015 (Consequential Amendments, Savings and Transitional Provisions) Regulations 2019 (S.I. 2019/1058), regs. 1, 6(2)(a) (with reg. 11(1))
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