2000 No. 971 (C. 25)
The Policyholders Protection Act 1997 (Commencement No. 1) Order 2000
Made
1
This Order may be cited as the Policyholders Protection Act 1997 (Commencement No. 1) Order 2000.
2
In this Order—
“the 1975 Act” means the Policyholders Protection Act 19753;
“the 1997 Act” means the Policyholders Protection Act 1997; and
“the specified date” means 5th April 2000.
3
1
Subject to paragraph (2), section 3 of the 1997 Act (persons qualifying for protection) shall come into force on the specified date.
2
The amendments to section 16 of the 1975 Act (companies in financial difficulties: transfer of business, etc) made by section 3 of the 1997 Act shall not have effect where—
a
in a case falling within section 16(1)(a) of the 1975 Act, the petition for the winding up of the company which led to the appointment of the provisional liquidator was presented before the specified date;
b
in a case falling within section 16(1)(b) of the 1975 Act4, the petition for the winding up of the company was presented before the specified date; or
c
in a case falling within section 16(1)(c) of the 1975 Act5, the application for the sanctioning of a compromise or arrangement was made before the specified date.
4
1
Subject to paragraphs (2) and (3), section 16 of the 1997 Act (extension of definition of “policyholder”) shall come into force on the specified date.
2
Section 16 of the 1997 Act shall not have effect for the purposes of sections 5 to 11 of the 1975 Act where–
a
in a case falling within section 5(1)(a) of the 1975 Act6 (whether or not an order for the winding up of the company by the court has been made since the resolution there mentioned was passed), the resolution was passed before the specified date; or
b
in a case falling within section 5(1)(b) of the 1975 Act, the petition for the winding up of the company by the court was presented before the specified date.
3
Section 16 of the 1997 Act shall not have effect for the purposes of sections 15 to 17 of the 1975 Act where—
a
in a case falling within section 16(1)(a) of the 1975 Act, the petition for the winding up of the company which led to the appointment of the provisional liquidator was presented before the specified date;
b
in a case falling within section 16(1)(b) of the 1975 Act, the petition for the winding up of the company was presented before the specified date; or
c
in a case falling within section 16(1)(c) of the 1975 Act, the application for the sanctioning of a compromise or arrangement was made before the specified date.
5
Section 21 of the 1997 Act (interpretation) shall come into force on the specified date.
(This note is not part of the Order)