Schedule 12, Part 3 Further provision about write-down orders (para. 3)

Section 55

3 After Schedule 19A to FSMA 2000 (the manager of a write-down order), inserted by Part 2 of this Schedule, insert -

"SCHEDULE 19B FURTHER PROVISION ABOUT WRITE-DOWN ORDERS

Section 377J

PART 1 RESTRICTIONS ON ENFORCEMENT

Application of this Part of this Schedule

1

(1) This Part of this Schedule applies in relation to an insurer -

(a) during the period -

(i) beginning with the date on which an application is made for a write-down order in relation to the insurer, and

(ii) ending with the date on which the order is made or the application is withdrawn or dismissed;

(b) during the period -

(i) beginning with the date on which a write-down order is made in relation to the insurer, and

(ii) ending with the last day of the period of six months beginning with the day on which the write-down order takes effect (see section 377A(3)(a));

(c) during such further period as the court may order.

(2) This Part of this Schedule ceases to apply -

(a) where the court orders that it should cea

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