(1) Nothing in this Schedule affects the operation of -
(a) Part 7 of the Companies Act 1989 (financial markets and insolvency);
(b) the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);
(c) the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);
(d) the Financial Collateral Arrangements (No.2) Regulations 2003 (S.I. 2003/3226).
(2) Nothing in this Schedule affects any protected arrangements within the meaning of section 48P of the Banking Act 2009.
Disapplication of this Schedule by the court
(1) The court may order that this Schedule, or a specified provision of this Schedule -
(a) does not apply (insofar as it would otherwise) in relation to one or more contracts to which the insurer is a party, or
(b) applies with specified modifications in relation to one or more such contracts.
(2) An order under this paragraph -
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