1
Application and Definitions
1.1
Unless otherwise stated, this Part applies to every insurer under write-down but not to affected market participants or the Society.
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1.2
In this Part, the following definitions shall apply:
has the meaning given in 2.1.
means an agreement which is, or forms part of, an arrangement involving the issue of a capital market investment, as defined in paragraph 6 of Schedule ZA2 to the Insolvency Act 1986.
has the meaning given in the FCA Handbook for the purposes of CASS 5 of the FCA Handbook.
has the meaning given in paragraph 6 of Schedule 19C to FSMA (Relevant contracts).
means any party to a financial contract other than the insurer under write-down.
relevant contract of insurance
has the meaning given in sub-paragraph 3(2) of Schedule 19C to FSMA (Restriction on policyholder surrender rights).
means the information specified in Chapter 3.
means any person who supplies goods or services to the insurer under write-down in circumstances where:
- (1) a liability in respect of such supply has been reduced pursuant to a write-down order; or
- (2) the supplier is affected by paragraph 2 of Schedule 19B to FSMA (Moratorium on proceedings) or paragraph 7 of Schedule 19C to FSMA (Restrictions on termination etc).
has the meaning given to the term ‘manager’ in section 377G(1) of FSMA (The manager).
has the meaning given in section 377A(1) of FSMA (Write-down orders).
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