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The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005
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- UK Statutory Instruments
- 2005 No. 1998
- PART 2
- Regulation 20
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The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005, Section 20 is up to date with all changes known to be in force on or before 13 November 2024. 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.
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Changes and effects yet to be applied to Regulation 20:
- Regulations revoked by 2023 c. 29 Sch. 1 Pt. 2
Reorganisation controller's powers: administration orders in respect of membersU.K.
This section has no associated Explanatory Memorandum
20.—(1) The reorganisation controller may make an administration application under paragraph 12 of Schedule B1 [F1or under paragraph 13 of Schedule B1 to the 1989 Order] in respect of a member or former member.
(2) Paragraphs (3) to (5) apply if—
(a)a person other than the reorganisation controller makes an administration application under Schedule B1 [F2, or under Schedule B1 to the 1989 Order,] in relation to a member or former member; and
(b)an order under regulation 13(3) is not in force in respect of that member.
(3) The reorganisation controller is entitled to be heard—
(a)at the hearing of the administration application; and
(b)at any other hearing of the court in relation to the member under Schedule B1 (or Part 3 of the 1989 Order) [F3or under Schedule B1 to the 1989 Order].
(4) Any notice or other document required to be sent to a creditor of the member must also be sent to the reorganisation controller.
(5) The reorganisation controller, or a person appointed by him for the purpose, may—
(a)attend any meeting of creditors of the member summoned under any enactment;
(b)attend any meeting of a committee established under paragraph 57 of Schedule B1 [F4or under paragraph 58 of Schedule B1 to the 1989 Order]; and
(c)make representations as to any matter for decision at such a meeting.
[F5(5A) The reorganisation controller is entitled to participate (but not vote) in a qualifying decision procedure (within the meaning given by section 246ZE(11) of the 1986 Act) by which a decision about any matter is sought from the creditors of the member.]
(6) If, during the course of the administration of a member, a compromise or arrangement is proposed between the member and its creditors, or any class of them, the reorganisation controller may apply to court under [F6section 896 [F7or section 901C] of the 2006 Act].
Textual Amendments
F1Words in reg. 20(1) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(9)(a)
F2Words in reg. 20(2)(a) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(9)(b)
F3Words in reg. 20(3)(b) substituted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(9)(c)
F4Words in reg. 20(5)(b) inserted (6.4.2007) by The Insurers (Reorganisation and Winding Up)(Amendment) Regulations 2007 (S.I. 2007/851), regs. 1, 3(9)(d)
F5Reg. 20(5A) 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), 10(3) (with reg. 21)
F6Words in reg. 20(6) substituted (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), arts. 1(2), 27(6)
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