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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 18
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Version Superseded: 12/05/2011
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Powers of reorganisation controller: section 425 or Article 418 compromise or arrangementU.K.
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18.—(1) The reorganisation controller may apply to the court for an order that a meeting or meetings be summoned under section 425(1) of the 1985 Act or Article 418(1) of the Companies Order (power of company to compromise with creditors and members) in connection with a compromise or arrangement in relation to a member or former member.
(2) Where a member, its creditors or members make an application under section 425(1) or Article 418 the reorganisation controller is entitled to attend and be heard at any hearing.
(3) Where a meeting is summoned under section 425(1) or Article 418(1), the reorganisation controller is entitled to attend the meeting so summoned and to participate in it (but not to vote at it).
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