Financial Services and Markets Act 2000, Section 377F is up to date with all changes known to be in force on or before 07 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.
(1)This section applies where a write-down order is made in relation to an insurer.
(2)As soon as reasonably practicable after the order is made, the insurer must notify the FCA, the PRA and each affected person that the order has been made.
(3)An “affected person” is a person of a description specified in rules made by the PRA for the purposes of this section.
(4)Notification under this section—
(a)must include such other information as may be specified in rules made by the PRA for the purposes of this section, and
(b)must be given in such form and manner as may be specified in rules made by the PRA for the purposes of this section.
(5)Failure to notify an affected person in accordance with this section, or rules made by the PRA for the purposes of this section, does not affect the validity of the write-down order in relation to that person or any other person.]
Textual Amendments
F1Ss. 377A-377J inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(e), Sch. 12 para. 1(4)
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