107 Application for order sanctioning transfer scheme.U.K.
(1)An application may be made to the court for an order sanctioning an insurance business transfer scheme [F1, a banking business transfer scheme or a reclaim fund business transfer scheme].
(2)An application may be made by—
(a)the authorised person concerned;
(b)the transferee; or
(c)both.
(3)The application must be made—
(a)if the authorised person concerned and the transferee are registered or have their head offices in the same jurisdiction, to the court in that jurisdiction;
(b)if the authorised person concerned and the transferee are registered or have their head offices in different jurisdictions, to the court in either jurisdiction;
(c)if the transferee is not registered in the United Kingdom and does not have his head office there, to the court which has jurisdiction in relation to the authorised person concerned.
(4)“Court” means—
(a)the High Court; or
(b)in Scotland, the Court of Session.
Textual Amendments
F1Words in s. 107(1) substituted (12.3.2009) by Dormant Bank and Building Society Accounts Act 2008 (c. 31), ss. 15, 31(1)(2), Sch. 2 para. 3; S.I. 2009/490, art. 2 (with art. 3)
Modifications etc. (not altering text)
C1S. 107 applied (1.12.2001) by S.I. 2001/3626, arts. 1, 3(a)