http://www.legislation.gov.uk/uksi/2017/1212/regulation/95
The Risk Transformation Regulations 2017
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Statute Law Database
FINANCIAL SERVICES AND MARKETS
2024-05-16
Expert Participation
2023-07-11
These Regulations make provision for transformer vehicles, within the meaning given by section 284A of the Financial Services and Markets Act 2001 (c. 8; section 284A was inserted by section 31 of the Bank of England and Financial Services Act 2016 (c. 14)). They are to be read with the Risk Transformation (Tax) Regulations 2017. Collectively, these Regulations facilitate and regulate the issue of insurance linked securities in the United Kingdom.
The Risk Transformation Regulations 2017
Regulations
Financial Services and Markets Act 2023
Sch. 1
Pt. 2
s. 1(4)
s. 86(3)
The Risk Transformation Regulations 2017
PART 4Protected Cell Companies
CHAPTER 9Shares and shareholders
SECTION 1Shares
Amendments to the instrument of incorporation95
1
A protected cell company may only amend its instrument of incorporation if the proposed amendment is approved—
a
by written resolution of the persons holding voting shares issued on behalf of the core of the protected cell company; or
b
by a resolution passed in a general meeting by a simple majority of the total voting rights of those shareholders who are entitled to vote on the resolution at the meeting.
2
But paragraph (1) does not prevent the protected cell company's instrument of incorporation requiring a higher majority or unanimity.