The Insurers (Reorganisation and Winding Up) Regulations 2004

Interpretation of this Part U.K.

36.—(1) For the purposes of this Part—

(a) “affected insurer” means a UK insurer which is the subject of a relevant reorganisation or a relevant winding up;

(b) “relevant reorganisation or a relevant winding up” means any voluntary arrangement, administration order, winding up, or order referred to in regulation 34(1)(d) t o which this Part applies; and

(c) “relevant time” means the date of the opening of a relevant reorganisation or a relevant winding up.

(2) In this Part, references to the opening of a relevant reorganisation or a relevant winding up mean—

(a) in the case of winding up proceedings—

(i) in the case of a winding up by the court, the date on which the winding up order is made, or

(ii) in the case of a creditors' voluntary winding up, the date on which the liquidator is appointed in accordance with section 100 of the 1986 Act M1 , paragraph 83 of Schedule B1 or Article 86 of the 1989 Order [F1 or paragraph 84 of Schedule B1 to the 1989 Order];

(b) in the case of a voluntary arrangement, the date when a decision with respect to that voluntary arrangement has effect in accordance with section 4A(2) of the 1986 Act or Article 17A(2) of the 1989 Order;

(c) in a case where an administration order under paragraph 13 of Schedule B1 [F2 or under paragraph 14 of Schedule B1 to the 1989 Order] is in force, the date of the making of that order;

(d) in a case where an administrator is appointed under paragraphs 14 or 22 of Schedule B1 [F3 or under paragraph 15 or 23 of Schedule B1 to the 1989 Order,] the date on which that appointment takes effect;

(e) in a case where the court reduces the value of one or more of the contracts of a UK insurer under section 377 of the 2000 Act or section 24(5) of the Friendly Societies Act 1992, the date the court exercises that power; and

(f) in a case where a provisional liquidator has been appointed, the date of that appointment,

and references to the time of an opening must be construed accordingly.

Textual Amendments

F1 Words in reg. 36(2)(a)(ii) added (6.4.2007) by The Insurers (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 2(16)(a)

F2 Words in reg. 36(2)(c) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 2(16)(b)

F3 Words in reg. 36(2)(d) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up) (Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 2(16)(c)

Modifications etc. (not altering text)

C1 Pt. 5 excluded (10.8.2005) by The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005 (S.I. 2005/1998), regs. 1, 47(2) (with reg. 32)

C2 Reg. 36 modified (10.8.2005) by The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005 (S.I. 2005/1998), regs. 1, 45, 46(3) (with reg. 32)

Marginal Citations

M1 Section 4A was inserted into the 1986 Act by the Insolvency Act 2000(c. ), section 2(a) and Schedule 2 paragraphs 1 and 5.