(1) The compensation scheme may, in particular, include provision for the scheme manager to have power to take measures for safeguarding policyholders, or policyholders of a specified class, of relevant insurers.
(2) “Relevant insurers” means relevant persons who—
(a) have permission to effect or carry out contracts of insurance; and
(b) are in financial difficulties.
(3) The measures may include such measures as the scheme manager considers appropriate for—
(a) securing or facilitating the transfer of a relevant insurer's business so far as it consists of the carrying out of contracts of insurance, or of any part of that business, to another authorised person;
(b) giving assistance to the relevant insurer to enable it to continue to effect or carry out contracts of insurance.
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