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The Insurers (Reorganisation and Winding Up) Regulations 2003
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- UK Statutory Instruments
- 2003 No. 1102
- PART IV
- Regulation 29
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Composite insurers: general meetings of creditors
29.—(1) This regulation applies as does regulation 28.
(2) The creditors mentioned in section 168(2) of the 1986 Act, Article 143(2) of the 1989 Order or rule 4.13 of the Insolvency (Scotland) Rules (power of liquidator to summon general meetings of creditors) are to be—
(a)in relation to the long term business assets of that insurer, only those who are creditors in respect of long term business liabilities; and
(b)in relation to the general business assets of that insurer, only those who are creditors in respect of general business liabilities,
and, accordingly, any general meetings of creditors summoned for the purposes of that section, Article or rule are to be separate general meetings of creditors in respect of long term business liabilities and general business liabilities.
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