There are outstanding changes not yet made by the legislation.gov.uk editorial team to Financial Services and Markets Act 2000. Any changes that have already been made by the team appear in the content and are referenced with annotations.
[F110(1)This paragraph applies where—
(a)the liability is a liability under a contract of insurance the insurer carries out as principal (“contract A”), and
(b)the insurer enters into a reinsurance contract under which contract A, or any liability under contract A, is reinsured (“contract B”).
(2)In determining the value of the liability for the purposes of contract B, no account is to be taken of the reduction in value of the liability under the write-down order.]
Textual Amendments
F1Sch. 19B inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(e), Sch. 12 para. 3
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