Section 378

The Treasury may by regulations provide for the treatment of the assets of an insurer on its winding up. The regulations may, in particular, provide for— assets representing a particular part of the insurer’s business to be available only for meeting liabilities attributable to that part of the insurer’s business; separate general meetings of the creditors to be held in respect of liabilities attributable to a particular part of the insurer’s business.

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