Section 377A(4)

A write-down order may not be made in relation to an insurer— which is in administration (within the meaning of Schedule B1 to the 1986 Act or Schedule B1 to the 1989 Order), or which is in liquidation by virtue of— a resolution for voluntary winding up, or a winding-up order under section 125 of the 1986 Act or Article 105 of the 1989 Order.

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