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The Bankruptcy (Financial Services and Markets Act 2000) Rules 2001 and the Insurers (Winding Up) Rules 2001 (Amendment) Rules 2019
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Amendment of the Insurers (Winding Up) Rules 2001
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3. In rule 23 (dividends to creditors) of the Insurers (Winding Up) Rules 2001(1) for paragraph (2) substitute—
“(2) Chapter 3 of Part 14 of the principal rules (distribution to creditors in winding up) applies as though—
(a)the assets of the company which are available for meeting the liabilities of the company attributable to its long-term business and those liabilities, and
(b)the assets of the company which are available for meeting the liabilities of the company attributable to its other business and those liabilities,
were the assets and liabilities of separate companies.”.
(1)
S.I. 2001/3635, as amended by S.I 2018/208.
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