Schedule 19C, Part 1, paragraph 2(1)

An insurer is in “financial difficulties” for the purposes of this Schedule if— Part 1 of Schedule 19B (write-down orders: restrictions on enforcement) has effect in relation to the insurer (see paragraph 1(1) and (2) of that Schedule); the insurer is in administration, within the meaning of Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order, or awaiting administration; a petition for the winding up of the insurer has been presented and has not been withdrawn or determined.

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