(1) The Treasury may by regulations provide for the treatment of the assets of an insurer on its winding up.
(2) The regulations may, in particular, provide for—
(a) assets representing a particular part of the insurer's business to be available only for meeting liabilities attributable to that part of the insurer's business;
(b) separate general meetings of the creditors to be held in respect of liabilities attributable to a particular part of the insurer's business.
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