[109 Scheme reports: insurance business transfer schemes]
[109 Scheme reports: insurance business transfer schemes]

(1)     An application under section 107 in respect of an insurance business transfer scheme must be accompanied by a report on the terms of the scheme (“a scheme report”).

(2)     A scheme report may be made only by a person—

(a)     appearing to the [appropriate regulator] to have the skills necessary to enable him to make a proper report; and

(b)     nominated or approved for the purpose by the [appropriate regulator].

(3)     A scheme report must be made in a form approved by the [appropriate regulator].

[(4)     Where the appropriate regulator is the PRA, it must consult the FCA before—

(a)     nominating or approving a person under subsection (2)(b), or

(b)     approving a form under subsection (3).

(5)     Subsection (6) applies where the appropriate regulator is the FCA and either—