Section 377H(1)

A reduction in the value of a liability of an insurer under a write-down order ceases to have effect— on such date as may be specified in the order (and different dates may be specified in relation to different liabilities or liabilities of different types), or if earlier, or if no such date is specified, the date on which a termination event happens (or, if more than one termination event happens, the earliest of those dates).

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