Schedule 19A, paragraph 4

This paragraph applies if the manager forms the view that it is in the interests of the insurer’s policyholders and other creditors (taken as a whole) for the write-down order to be— revoked, or varied in one or more respects. The manager must apply to the court for such orders (whether under section 377I or otherwise) as the manager thinks likely to achieve the best outcome for the insurer’s policyholders and other creditors (taken as a whole). In forming the view mentioned in sub-paragraph (1), the manager may have regard, among other things— to whether recommendations under paragraph 3(2) have been made (and if so, whether they have been acted upon); to whether recommendations, or further recommendations, under paragraph 3(2) could be made (and if so, the likelihood that they will be acted upon).

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Source: legislation.gov.uk · retrieved 2026-09-04