Schedule 12, Part 3, paragraph 3(1)

This Part of this Schedule applies where— the value of a liability of an insurer is reduced under a write-down order, while the write-down order has effect in relation to the liability, an amount of the liability is due and payable (or would be due and payable but for the write-down order), and the amount remains due and payable after the reduction ceases to have effect.

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