111 Sanction of the court for business transfer schemes
111 Sanction of the court for business transfer schemes

(1)     This section sets out the conditions which must be satisfied before the court may make an order under this section sanctioning an insurance business transfer scheme[, a banking business transfer scheme[, a reclaim fund business transfer scheme or a ring-fencing transfer scheme]].

(2)     The court must be satisfied that—

(a)     [in the case of an insurance business transfer scheme or a banking business transfer scheme,] the appropriate certificates have been obtained (as to which see Parts I and II of Schedule 12);

[(aa)     in the case of a reclaim fund business transfer scheme, the appropriate certificate has been obtained (as to which see Part 2A of that Schedule);]