The Insurers (Reorganisation and Winding Up) Regulations 2003

means any accounts or statements maintained by the company in compliance with a requirement under the Companies Act 1985 or any rules made by the Authority under Part X of the 2000 Act;

has the meaning given by section 8(2) of the 1986 Act;

means a UK insurer which is the subject of a relevant reorganisation or winding up;

means the law of the EEA State which is applicable to the claim of the affected insurer.

means—

means a compromise or arrangement sanctioned by the court in relation to a UK insurer under Article 418 of the Companies Order, but does not include a compromise or arrangement falling within Article 420 or Article 420A of that Order (reconstructions or amalgamations);

has the same meaning as “property” in section 436 of the 1986 Act;

means those general business assets which must be applied in discharge of the insurer’s outstanding long term business preferential debts, in accordance with regulation 22(8);

means those long term business assets which must be applied in discharge of the insurer’s outstanding general business preferential debts, in accordance with regulation 22(6);

means a claim submitted by a creditor of a UK insurer in the course of— (a) a winding up, or (b) a voluntary arrangement, with a view to recovering his debt in whole or in part, and includes a proof of debt, within the meaning of rule 4.73(4) of the Insolvency Rules, Rule 4.079(4) of the Insolvency Rules (Northern Ireland) or in Scotland a claim made in accordance with rule 4.15 of the Insolvency (Scotland) Rules;

has the meaning given in regulation 18(3);

means the competent authority, as defined by Article 2(g) of the reorganisation and winding-up directive, which is competent for the purposes of the directive reorganisation measure or directive winding up proceedings mentioned in paragraph (2).

means a person appointed under or in connection with an EEA insolvency measure for the purpose of administering that measure;

means a UK insurer who is authorised to carry on both general business and long term business, in accordance with article 13(3) of the first life insurance directive;

means a reorganisation measure as defined in Article 2(c) of the reorganisation and winding-up directive which was adopted or imposed on or after the 20th April 2003;

means winding up proceedings as defined in Article 2(d) of the reorganisation and winding-up directive which were opened on or after the 20th April 2003;

includes any number or address used for the purposes of receiving electronic communications which are sent electronically;

means an electronic communication within the meaning of the Electronic Communications Act 2000 the processing of which on receipt is intended to produce writing;

has the meaning given by section 251 of the 1986 Act or paragraph (1) of Article 5 of the 1989 Order;

means the business of effecting or carrying out a contract of general insurance;

means the assets of a composite insurer which are, or should properly be, apportioned to that insurer’s general business, in accordance with the requirements of Article 14 of the first life insurance directive (separate management of long term and general business of a composite insurer);

means the debts of a composite insurer which are attributable to the general business carried on by that insurer;

means those debts mentioned in regulation 24(1) and, unless the court orders otherwise, any expenses of the winding up which are apportioned to the general business assets in accordance with regulation 30.

means an insurance debt which is attributable to the general business of the insurer;

means a UK insurer who carries on exclusively general business;

means an insolvency practitioner, within the meaning of section 388 of the 1986 Act or Article 3 of the 1989 Order who is appointed or acts in relation to a third country insurer.

has the meaning given by rule 13.8 of the Insolvency Rules or Rule 0.2 of the Insolvency Rules (Northern Ireland) and in Scotland means the company’s assets;

means any claim in relation to an insurance debt;

means a person who has an insurance claim against a UK insurer (whether or not he has claims other than insurance claims against that insurer);

means a debt to which a UK insurer is, or may become liable, pursuant to a contract of insurance to a policyholder or to any person who has a direct right of action against that insurer, and includes any premium paid in connection with a contract of insurance (whether or not that contract was concluded) which the insurer is liable to refund;

means—

means a liquidator, as defined by Article 20(j) of the directive who is appointed in relation to the EEA insurer in relation to which the proposal is made;

means the business of effecting or carrying out a contract of long term insurance;

means the assets of a composite insurer which are, or should properly be, apportioned to that insurer’s long term business, in accordance with the requirements of Article 14 of the first life insurance directive (separate management of long term and general business of a composite insurer);

means the debts of a composite insurer which are attributable to the long term business carried on by that insurer;

means those debts mentioned in regulation 23(1) and, unless the court orders otherwise, any expenses of the winding up which are apportioned to the long term business assets in accordance with regulation 30;

means an insurance debt which is attributable to the long term business of the insurer;

means a UK insurer who— (a) carries on long term business exclusively;

means the assets representing the fund or funds maintained by the company in respect of its long-term business;

means a composite insurer the long term business of which has not been, and is not to be, transferred as a going concern to a person who may lawfully carry out those contracts, in accordance with section 376(2) of the 2000 Act;

means a language specified in Article 1 of Council Regulation No. 1 of 15th April 1958 determining the languages to be used by the European Economic Community (Regulation 1/58/EEC), most recently amended by paragraph (a) of Part XVIII of Annex 1 to the Act of Accession 1994 (194 N);

means any assets of a composite insurer which are not long term business assets or general business assets;

means any assets of the company which are not long-term business assets.”

means assets of the kind mentioned in regulation 26(2).

means those general business preferential debts, if any, which remain unpaid, either in whole or in part, after the application of the general business assets, in accordance with paragraph (3).

means any insurance debt, or any part of an insurance debt, which was not discharged by the application of the long term business assets and the general business assets in accordance with regulation 22;

means those long term business preferential debts, if any, which remain unpaid, either in whole or in part, after the application of the long term business assets, in accordance with paragraph (3);

means any preferential debt attributable either to the long term business or the general business of the insurer which was not discharged by the application of the long term business assets and the general business assets in accordance with regulation 23;

means the business of effecting or carrying out a contract of general insurance where the risk insured against relates to either accident or sickness.”

has the meaning given by the Financial Services and Markets Act 2000 (Meaning of “Policy” and “Policyholder”) Order 2001;

means a debt falling into any of categories 1 to 5 of the debts listed in Schedule 6 to the 1986 Act or Schedule 4 to the 1989 Order, that is— (a) debts due to the Inland Revenue, (b) debts due to Customs and Excise, (c) social security contributions, (d) contributions to occupational pension schemes, etc, and (e) remuneration etc. of employees;

means an agent validly appointed (whether in the United Kingdom or elsewhere) by a competent officer in accordance with the relevant law in the relevant EEA State;

means a voluntary arrangement which—

has the meaning given by regulation 12(12).

has the meaning given by the Council Directive of 10 May 1993 on investment services in the securities field (No. 93/22/EEC).

means the appointment of a liquidator as mentioned in section 100 of the 1986 Act or Article 86 of the 1989 Order (appointment of liquidator in a creditors' voluntary winding up);

means the 20th April 2003.

means a decision as a result of which a qualifying voluntary arrangement has effect.

means the EEA State under the law of which the reorganisation is adopted or imposed, or the winding up proceedings are opened, as the case may be.

means— i the appointment of a provisional liquidator, or ii the appointment of an administrator, where an effect of the appointment will be, or is intended to be, a realisation of some or all of the assets of the insurer and the distribution of the proceeds to creditors, with a view to terminating the whole or any part of the business of that insurer.”

means a lawsuit concerning an asset or right of which the affected insurer has been divested.

means—

means—

means a preferential debt which is attributable to the general business of the insurer.

means—

means any direct right of action against a UK insurer under a contract of insurance, including the right to prove for a debt under that contract in a winding up of that insurer;

means—

means the date of the opening of a relevant reorganisation or a relevant winding up

means any voluntary arrangement, administration order, winding up, or order referred to in regulation 34(1)(d) to which this Part applies;

means a written report setting out the position generally as regards the progress of the winding up or provisional liquidation (as the case may be).

has the meaning given by section 212(1) of the Financial Services and Markets Act 2000.

means a compromise or arrangement sanctioned by the court in relation to a UK insurer under section 425 of the 1985 Act, but does not include a compromise or arrangement falling within section 427 or section 427A of that Act (reconstructions or amalgamations);

means— (a) a friendly society incorporated under the Friendly Societies Act 1992, (b) a society which is a friendly society within the meaning of section 7(1)(a) of the Friendly Societies Act 1974, and registered within the meaning of that Act, or (c) an industrial and provident society registered or deemed to be registered under the Industrial and Provident Societies Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969.

has the meaning given by section 7 of the 1986 Act or Article 20 of the 1989 Order;

means the Companies Act 1985;

means the Insolvency Act 1986;

means the Insolvency (Northern Ireland) Order 1989;

means the Financial Services and Markets Act 2000;

means the Financial Services Authority;

means the date when a UK insurer goes into liquidation within the meaning given by section 247(2) of the 1986 Act or Article 6(2) of the 1989 Order.

means the Companies (Northern Ireland) Order 1986;

means the Financial Services and Markets Act 2000 (Disclosure of Confidential Information) Regulations 2001;

means the Council Directive of 5th March 1979 on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance (No.79/276/EEC);

means the Council Directive of 24th July 1973 on the co-ordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct insurance other than life assurance (No.73/239/EEC);

means the Insolvency (Scotland) Rules 1986;

means the Insolvency Rules 1986;

means the Insolvency Rules (Northern Ireland) 1991;

means the directive of the European Parliament and of the Council of 19th March 2001 on the reorganisation and winding-up of insurance undertakings (2001/17/EC);

means any provision of the general law of insolvency relating to the voidness, voidability or unenforceability of legal acts detrimental to all the creditors, as referred to in regulation 37(3)(m).

means the Council Directive of 10th November 1992 on the co-ordination of laws, etc, and amending directives 79/267/EEC and 90/619/EEC (No. 92/96/EEC);

means the Council Directive of 18th June 1992 on the co-ordination of laws, etc, and amending directives 73/239/EEC and 88/357/EEC (No. 92/49/EEC);

means a person—

has the same meaning as in regulation 25;

means a voluntary arrangement which has effect in relation to a UK insurer in accordance with section 4A of the 1986 Act;

means— (a) winding up by the court, or (b) a creditors' voluntary winding up.