Schedule 13, Part 1, Part 4, paragraph 10(4)

The court may make an order under this paragraph only if satisfied that one or more of the following grounds is made out— not making the order would be likely to cause hardship to any person (other than the insurer); where the insurer is in financial difficulties by virtue of paragraph 2(1)(a) (write-down order), making the order is reasonably likely to lead to a better outcome for the insurer’s policyholders and other creditors (taken as a whole) than not making the order; where the insurer is in financial difficulties by virtue of paragraph 2(1)(b) (administration), making the order is reasonably likely to promote the purpose of administration.

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