Schedule 12, Part 2, paragraph 2(1)

The manager must monitor the insurer’s affairs for the purpose of forming a view as to whether— it remains the case that the write-down order is reasonably likely to lead to a better outcome for the insurer’s policyholders and other creditors (taken as a whole) than if the write-down order were not in effect, or that will remain the case, or once again be the case, if the directors of the insurer were to take certain action or refrain from taking certain action.

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