217 Insurers in financial difficulties
217 Insurers in financial difficulties

(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.

(4)     The scheme may provide—