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The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005

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Changes over time for: Section 18

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Version Superseded: 12/05/2011

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Point in time view as at 10/08/2005. This version of this provision has been superseded. Help about Status

Changes to legislation:

The Insurers (Reorganisation and Winding Up) (Lloyd's) Regulations 2005, Section 18 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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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