(1)An application under section 107 in respect of an insurance business transfer scheme must be accompanied by a report on the terms of the scheme (“a scheme report”).
(2)A scheme report may be made only by a person—
(a)appearing to the Authority to have the skills necessary to enable him to make a proper report; and
(b)nominated or approved for the purpose by the Authority.
(3)A scheme report must be made in a form approved by the Authority.