107 Application for order sanctioning transfer scheme
107 Application for order sanctioning transfer scheme

(1)     An application may be made to the court for an order sanctioning an insurance business transfer scheme[, a banking business transfer scheme[, a reclaim fund business transfer scheme or a ring-fencing transfer scheme]].

(2)     An application may be made by—

(a)     [the transferor concerned];

(b)     the transferee; or

(c)     both.

[(2A)     An application relating to a ring-fencing transfer scheme may be made only with the consent of the PRA.

(2B)     In deciding whether to give consent, the PRA must have regard to the scheme report prepared under section 109A in relation to the ring-fencing transfer scheme.]

(3)     The application must be made—

(a)     if [the transferor concerned] and the transferee are registered or have their head offices in the same jurisdiction, to the court in that jurisdiction;