379 Winding-up rules
379 Winding-up rules

(1)     Winding-up rules may include provision—

(a)     for determining the amount of the liabilities of an insurer to policyholders of any class or description for the purpose of proof in a winding up; and

(b)     generally for carrying into effect the provisions of this Part with respect to the winding up of insurers.

(2)     Winding-up rules may, in particular, make provision for all or any of the following matters—

(a)     the identification of assets and liabilities;

(b)     the apportionment, between assets of different classes or descriptions, of—

(i)     the costs, charges and expenses of the winding up; and

(ii)     any debts of the insurer of a specified class or description;

(c)     the determination of the amount of liabilities of a specified description;