(1) An applicant under section 107 of the Act for an order sanctioning an insurance business transfer scheme ("the scheme") must comply with the following requirements.

(2) A notice stating that the application has been made must be -

(a) published in -

(i) the London, Edinburgh and Belfast Gazettes, and

(ii) two national newspapers in the United Kingdom;

(b) sent to every policyholder of the parties; and

(c) sent -

(i) to every reinsurer of the authorised person concerned (within the meaning of section 105(2) of the Act) any of whose contracts of reinsurance (in whole or part) are to be transferred by the scheme; or

(ii) in a case where such a contract has been placed with or through a person authorised to act on behalf of the reinsurer, then to that person; or

(iii) in a case where such a contract has been placed with more than one reinsurer, then to the person or persons authorised to act on behalf of those reinsurers or groups of reinsurers.

(3) The notices mentioned in paragraph (2) must -